Fourth quarter report shared by the Bank of New York Mellon Corp. has revealed that for the period, the facility's profits surged, mainly on the back of the fact that the asset manager and security adviser had managed to free itself of all the securities losses that had hurt it in the past quarter.

During the year's third quarter, the group had sold or restructured funds worth billions of dollars in risky investments, a move that managed to hurt its profits at the time, but has managed to prove beneficial in the long run.

For the year's fourth-quarter, Bank of New York posted total fee revenue of $2.58 Billion, which is 43% more than the figure for last year. Net securities gains were, on the other hand, $15 Million for the period, compared to last year's loss of $1.24 Billion.

Revenue, however, declined by a third to $724 Million compared to last year, but was marginally better than the revenue for the third-quarter.

Chief Executive Robert Kelly has said that the company is in "excellent" condition and is optimistic about the coming times.