A BNY Mellon sign is seen on their headquarters in New York's financial district, January 19, 2011. REUTERS/Brendan McDermid

BOSTON (Reuters) - New BNY Mellon Corp BK.N Chief Executive Officer Charles Scharf said on Monday he will focus on boosting the custody bank's organic growth, but he would consider acquisitions if they make strategic sense.

“The first priority is growing the company organically,” Scharf told Reuters. “We already are in places that have tremendous amounts of opportunity.”