Artisan Partners Limited Partnership - Antero Peak Strategy on The Bank of New York Mellon Corp

Bank of New York Mellon is held within the strategy's new Evolving Financials theme. The fund believes many financial institutions enter the current period with well-capitalized balance sheets, rationalized cost structures and substantial efficiency initiatives already underway. Capital markets activity and corporate lending are recovering from depressed levels while regulation appears likely to become less restrictive. The combination of excess capital, improving activity, deregulation and operational efficiency could produce sustained improvements in returns on capital, earnings power and growth expectations.