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  "documentTitle": "The Bank of New York Mellon (BK)",
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  "authorName": "Marcato Capital Management",
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      "text": "1. BNY Mellon has a good franchise in what has been a good business\n2. But the world has changed...\n   i. Low rates and volatility pressuring revenues (permanent?)\n   ii. Regulatory environment imposing new capital charges and operating burdens (permanent)\n3. Management has done a poor job creating value through this changing environment and offers no new ideas for facing current and future challenges\n4. BNY Mellon will not reach its potential with small, incremental adjustments but requires bold action and new ideas\n5. New leadership will be necessary to conceive and execute the strategies necessary to compete in this new world",
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