Mellon Merges Its Mutual Fund And Asset Management Sectors

Mellon Financial Corporation has combined its Dreyfus Mutual Fund sector with its Institutional Asset Management sector, a move meant to align its asset management and distribution businesses
By None

Mellon Financial Corporation has combined its Dreyfus Mutual Fund sector with its Institutional Asset Management sector, a move meant to align its asset management and distribution businesses.

Vice Chairman Ronald P. O’Hanley will lead the combined sector and Vice Chairman Stephen E. Canter, who remains chairman and chief executive officer of The Dreyfus Corporation, will report to O’Hanley. O’Hanley reports to Martin G. McGuinn, Mellon chairman and chief executive officer. Mellon began combined financial reporting for these two sectors in the third quarter of 2005.

“The creation of Mellon Asset Management also reflects the fact that in the asset management business, clients for the retail and institutional segments are fast converging as individual investors and their advisors are seeking the consistency of process, personnel and performance that institutional products offer,” O’Hanley said.

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