UPDATE 1-BNY Mellon's activist board member praises progress, even as stock slumps
April 12, 2016 at 11:17 AM EDT
NEW YORK, April 12 (Reuters) - BNY Mellon Corp's activist board member on Tuesday praised the bank's financial progress and the leadership of Chief Executive Gerald Hassell, even as the company's stock is down about 12 percent over the past year and lagging the benchmark S&P 500 Index.