BNY Mellon IM to merge three boutiques to create new multi-asset giant

Creates $560bn AUM entity

BNY Mellon Investment Management is to combine its three largest US investment managers to create a specialist multi-asset group in 2018 with $560bn AUM.

The $1.8trn AUM asset manager, which operates a multi-boutique model, will merge US-based Mellon Capital Management (MCM), Standish Mellon Asset Management and The Boston Company Asset Management (TBCAM) in a move expected to be completed within 12 months. BNY Mellon IM hires UK sales director from Muzinich During this transition period, MCM, Standish and TBCAM will maintain their existing product brands until the launch of a unified brand later in 2018. With over $560bn in AUM, the combined business will rank as a top 10 US institutional asset manager and a top 50 manager globally...