NEW YORK, June 11 (Reuters) - The oldest U.S. bank is

getting a new name.

Bank of New York Mellon ( BK ) is embracing BNY as its new

moniker, CEO Robin Vince wrote in a memo to employees on

Tuesday. The company also unveiled block-lettered signs with the

three-letter name across its major offices.

Since it was founded 240 years ago by Alexander Hamilton,

BNY has grown to oversee $48.8 trillion in assets, and serves as

a bank for other financial institutions, known as a custodian.

It is the longest continuously operating company in New York

City and the company's founding even predates the signing of the

U.S. constitution.

"Though we have long been known as both trusted and

resilient, to exist and thrive for more than two centuries has

also required a continuous focus on innovation," Vince wrote.

Since taking the helm in March 2022, Vince has brought in

new leadership and focused on growth in areas like real-time

payments and artificial intelligence, while boosting efficiency.

The executive spent 26 years at Goldman Sachs, where he rose to

become its chief risk officer.

BNY's stock has risen almost 17% in 2024, compared with 13%

for a broader S&P 500 index of bank shares. Its earnings per

share and revenue climbed last year.

The bank's rebrand was its first since it slimmed down to

BNY Mellon 17 years ago. It follows a trend toward brevity on

Wall Street after decades of mergers and acquisitions led to

ever-lengthier names.

BNY also introduced a new teal arrow logo to precede its

all-capitals name, which is already a widely used shorthand in

financial circles. Some of its divisions will also be renamed:

BNY Investments, BNY Wealth and BNY Pershing.

The bank is rolling out new branded merchandise like

sweatshirts to coincide with the launch.

Still, its legal name will remain The Bank of New York

Mellon Corporation ( BK ).