In contrast several senior executives from BNY Asset Management left shortly after the merger was complete.

Client interest in it declined after 2006 due to its involvement with Amaranth Advisors which resulted in significant losses.

At the same time, New York Attorney General Andrew Cuomo was investigating it due to its involvement in advising clients to invest with Bernie Madoff.

In November 2012, Ivy Asset Management reached a $210 million settlement with US authorities for its involvement with Madoff.

[3] In May 2022, Franklin Templeton Investments agreed to acquire the Alcentra private credit unit from BNY Mellon IM for $1 billion.

GlobalCapital stated this was far less than the initial expectation and was perceived to happen due to the weakening of the unit's business in recent years.