US - Mellon Financial Corporation has announced that three of its 14 institutional asset management businesses - Certus Asset Advisors, Mellon Bond Associates and Standish Mellon Asset Management - have decided to merge into an organisation with approximately US$125bn in assets under management.
The new company will be called Standish Mellon Asset Management. It will be based in Boston and have additional offices in Pittsburgh and San Francisco.
Bill Adam, currently CEO of Mellon Bond, will become CEO of the new entity.
Ted Ladd, chairman of Standish Mellon, will assume the same role in the new group, and Rob McCormish, president and CEO of Certus, will join the executive management group of the new firm.
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