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Laxman Pai, Opalesque Asia: BNY Mellon Investment Management's U.S. multi-asset manager will be branded Mellon effective on January 2, 2019.
The mega-boutique new unit with $549.8 billion in total assets is formed from the merger of Mellon Capital Management, Standish Mellon Asset Management and The Boston Company Asset Management.
According to a press release from the company, the active equity strategies of the Boston Co.; the active fixed income strategies of Standish Mellon; and the index, multi-asset, and multi-factor strategies of Mellon Capital are combined to create the next-generation multi-asset investment manager and will operate under the name Mellon Corporation.
The release quoted Des Mac Intyre, Chairman and CEO as saying that: "With its long heritage in the investment community and strong associations with wealth and prosperity, Mellon is a natural name for our business. The combined business represents a step beyond traditional investment management, delivering integrated multi-asset expertise from one firm."
Mac Intyre added: "Our clients' continued partnership affirms the benefits of bringing together the capabilities of these three firms. With our clients' feedback in mind, we identified a new brand that captures the essence of the past and the promise of our future. We believe today's announcement marks the next step in our journey together to deliver superior investment outcomes for clients."
Mitchell Harris, CEO of BNY...................... To view our full article Click here
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