The firm maintains an Average Parent rating.
In July 2024, BNY announced that Minaya would join as CEO in September and that current CEO Hanneke Smits would transition to chair at the same time before retiring at the end of the year. Minaya comes from Nuveen, where he spent nearly 20 years in total, ending with more than four years as CEO. During his tenure at Nuveen, the firm underwent significant transformation, merging multiple affiliate investment teams into centralized equity and fixed-income groups.
Minaya’s prior experience should serve him well as he settles in at BNY, which is structured as seven wholly owned but autonomous investment affiliates that mostly focus on distinct asset classes. Outgoing CEO Smits streamlined the firm’s structure in February 2021 by consolidating most of BNY’s active fixed-income and equity capabilities into two affiliates, Insight and Newton, respectively, and by trimming overlapping investment teams; further, the firm sold private-credit-focused Alcentra to Franklin Templeton in May 2022. Still, despite closing funds in recent years, the firm’s strategy lineup remains extensive and complex.