Why are Bank of New York Mellon (BK) shares down 11% in the last five trading days, you ask? I have the answers!

Rochdale Securities’s Dick Bove writes in a research note today that some investors fear BK is exposed to losses from the impending bankruptcy of struggling small-business creditor CIT Group (CIT), even though, as Bove points out, BK insists this is not true. Also, they fear Bank of America (BAC) will lure away Bank of New York CEO Bob Kelly. (CNBC repeats the rumor today that Kelly’s interested in the job, even though WSJ quotes him earlier in the week as not being interested.) Bove points out it makes no sense for Kelly to give up his free hand and generous compensation at BK for a government-regulated job at BAC, but that BK is “strong enough” to survive even without him. Lastly, Bove points out some analysts on the Street feel Bank of New York’s core business of custodian offers little growth. Bove believes the firm’s business can increase along with the global money supply.