Mellon seems to have secured a hold over the Princess Royal (a.k.a Princess Anne). Back on 10 June the bank persuaded her to open their new London offices in Queen Victoria Street. Tomorrow, she will “name” the yacht the bank – or, rather, European Fund Services and Mellon Global Investments, the fund administration and fund management arms of Mellon Financial Corporation in Europe – is sponsoring in the 2004-05 Global Challenge yacht race: Team Save the Children. The cynical question is, given that Princess Anne is patron of Save the Children, whether there was some connection between these two events. As Sir Chay Blyth, Executive Chairman of Challenge Business, has pointed out, the three Global Challenge yacht races have raised over 2.5 million for Save the Children. Companies interested in becoming involved with Team Save the Children should contact Paul Thompson at Challenge Business’ head office on +44 (0) 23 8071 5300.