Mellon seals Standish deal
Global firm Mellon Financial Corporation has completed its acquisition of US asset manager Standish, Ayer & Wood.
Standish is a Boston-based provider of investment management services to institutional clients and high net worth individuals.
The all cash transaction combines Standish - renamed Standish Mellon Asset Management - with Mellon's global investment management businesses.
Standish - which has $41bn assets under management - will remain headquartered in Boston.
By adding Standish to its existing investment management companies, Mellon increases its assets under management to more than $585bn and broadens its array of investment vehicles across a range of asset classes.
*Mellon also recently announced that it has reached an agreement to sell its mid-Atlantic region consumer, small business and certain middle-market banking operations to Citizens Financial Group - the US unit of The Royal Bank of Scotland Group.
By Madhu Kalia
Latest stories
AE error rates spark fears over data integrity
Businesses are experiencing auto-enrolment data error rates of up to 50%, posing questions over the reliability of pension records, Pensionsync says.
Sterling spikes as inflation beats expectations to hit six-month high of 2.7%
UK inflation unexpectedly rose to 2.7% in August, beating analysts' expectations of a drop to 2.4% from 2.5% the previous month.
TPAS sees 9% drop in enquiries in final year
The Pensions Advisory Service (TPAS) helped 187,000 people in 2017/18, a 9% fall on the previous year despite setting up special helplines for specific scheme members.
Back to Top
Most read
