BNY Mellon Investment Management has confirmed that its recently combined asset management business in the US is set to be named Mellon, as of 2 January next year.
First announced in November, the newly formed company combined three of BNY Mellon’s largest US-based buy-side firms to create a specialist, multi-asset investment management business.
The combined company now consists of Mellon Capital Management, Standish Mellon Asset Management and The Boston Company Asset Management, with $550 billion assets under management as of June this year.
“With its long heritage in the investment community and strong associations with wealth and prosperity, Mellon is a natural name for our business. The combined business represents a step beyond traditional investment management, delivering integrated multi-asset expertise from one firm,” said chairman and CEO of Mellon, Des Mac Intyre.
“Our clients’ continued partnership affirms the benefits of bringing together the capabilities of these three firms. With our clients’ feedback in mind, we identified a new brand that captures the essence of the past and the promise of our future.”
Mellon has more than 500 employees globally and is headquartered in Boston, with a presence in Pittsburgh, San Francisco, Singapore and Hong Kong. Mitchell Harris, CEO of BNY Mellon Investment, added that a firm’s brand is an extension of the business and so should reinforce the value it provides.
“Mellon is a common thread through all of the legacy brands and has a strong global reputation with investors,” Harris said. “Our new US investment manager Mellon will have its own unique identity and strengths, similar to our other investment specialists, reinforced by the world-class capabilities and scale of BNY Mellon Investment Management.”