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  "docSlug": "5fc8a35c21e4",
  "documentTitle": "The Bank of New York Mellon (BK)",
  "authorId": "07_Marcato",
  "authorName": "Marcato Capital Management",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-03-01 00:00:00",
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  "pageNumber": 103,
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  "notes": "Uses a bar chart to contrast high-inflow 'beta' strategies against low-inflow 'alpha' strategies to justify a divestiture recommendation.",
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      "kind": "callout",
      "text": "Alpha boutiques should be sold or spun and BNY Mellon should focus its resources on its competitive advantages within asset management",
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      "kind": "chart",
      "text": "BNY Mellon Investment Management Inflows (2011 – 2014) ($bn)",
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      "text": "BNY Mellon has experienced the greatest inflows into its more beta / process / scale-driven investment strategies like Liability-Driven Investments and Index businesses. High-touch, alpha-oriented boutiques make no strategic sense for this Company and are hard to sell to clients...no competitive advantage. Alpha boutiques should be sold or spun and BNY Mellon should focus its resources on its competitive advantages within asset management",
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      "text": "Investment Inflows: $186bn",
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      "text": "Source: Company filings",
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      "kind": "title",
      "text": "4. Reposition Asset Management (cont'd)",
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