Mellon Asset Management Subsidiary Launches In US

The London-based asset management subsidiary of Mellon Financial Corporation, Newton Capital Management Limited, will make its investment strategies available to institutional investors in the US in the first quarter of 2006
By None

The London-based asset management subsidiary of Mellon Financial Corporation, Newton Capital Management Limited, will make its investment strategies available to institutional investors in the US in the first quarter of 2006.

With concentrations in global equity, global fixed income, European equity and EAFE mandates, Newton has approximately $47 billion in assets under management, with global portfolios accounting for more than 70% of total institutional assets.

“A major reason that Newton is able to deliver strong performance is that we have successfully combined a bottom-up stock selection process within a clear global thematic framework,” said Helena Morrissey, Newton’s chief executive officer. “Themes are Newton’s interpretation of the major forces of global change, which results in a flexible approach to identifying areas likely to yield the best performing securities.”

“Mellon has grown into one of the world’s most successful asset managers as a result of strong performance, a variety of investment styles and a broad distribution platform under the Mellon umbrella,” said Ronald P. O’Hanley, Mellon Financial vice chairman and president of Mellon Asset Management. “Now with Newton offering its strategies to the US market, we are building on our efforts to offer the widest range of investment options across styles, disciplines and asset classes in the industry.”

Morrissey said Newton is firmly committed to the US market. “We have a great performance story to tell US institutional investors, we have hired a very high caliber professional to build our relationships and we intend to provide a genuine alternative to those seeking a different, yet highly effective, investment style.”

To drive the client servicing and sales effort locally, Ciaran Spillane has been appointed as head of the US business. Based in New York, Spillane will be responsible for developing relationships with leading U.S. investment consultants and institutional investors and driving the growth of Newton in the US.

Spillane was educated in Ireland and has almost a decade’s experience in managing relationships with US institutional clients including prominent public and corporate pension funds, endowments and foundations as well as subadvisory relationships. He joins from Bank of Ireland Asset Management Group where he was most recently director of client service at its US subsidiary, Iridian Asset Management. He will report to Mark Scott, head of the institutional business at Newton. A second US-based relationship manager will be announced shortly.

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