Building a Multi-Asset
Firm for the Future

BNY Mellon’s Largest U.S. Investment Managers Will Unite in 2018

Overview

On November 13, 2017, BNY Mellon Investment Management announced its intent to combine Mellon Capital Management Corporation (Mellon Capital), Standish Mellon Asset Management Company LLC (Standish) and The Boston Company Asset Management, LLC (The Boston Company), in 2018, to form a specialist multi-asset investment manager. We believe this combination will provide significant benefits to our clients. The existing businesses – each global in focus and largely institutional in nature – bring together complementary investment solutions and skills that include:

Mellon Capital uses a systematic process to deliver equity and fixed income index and factor-based smart beta strategies, as well as multi-asset solutions.

Standish is a fundamental, research-driven active fixed income manager with expertise in global and opportunistic fixed income, U.S. municipal bonds and U.S. short duration bonds.

The Boston Company is a research-driven active equity manager with expertise in value, growth and core styles as well as opportunistic and long/short alternative equity strategies.

 

Quick Facts

  • Over300
    Investment professionals globally
  • Over$560 billion
    In assets under management
    (as of 9/30/17)*
  • Top10
    U.S. institutional asset manager** and one of the top 50 managers in the world***
  • Boston
    Headquarters

Learn More

 

Watch the video below to hear Mitchell Harris, CEO of BNY Mellon Investment Management and Des Mac Intyre, CEO of BNY Mellon
U.S. Asset Management and CEO designee of the combined business, speak about the features of the new business:

Leadership

Des Mac Intyre
Des Mac Intyre
CEO of BNY Mellon U.S. Asset Management
CEO designee of the combined business

“This new company will position us to provide customized single and multi-asset solutions at scale in a unified manner to meet evolving client needs. Each business already has in depth investment expertise in their respective areas. By combining them we expect to be able to enhance their collective investment capabilities and reinvest any efficiencies to develop new investment solutions for the benefit of clients.”

Des Mac Intyre will be Chairman and CEO of the combined firm. In this role, Des brings dedicated day-to-day management oversight in helping set the strategic direction for the continued growth of the U.S. investment boutiques. Des most recently served as Head of Investment Process Oversight at Bridgewater Associates. Previously, he served as the Chairman & Chief Executive Officer of Standish. His investment management experience spans more than three decades and includes roles as Chief Operating Officer at Pareto Partners and Head of Risk and Treasurer for GM Asset Management. Des has an MPhil in Management Studies from the University of Exeter, where he also served as an Honorary Research Fellow, and a BA from University College Dublin.

Meet the Future CIOs

“At The Boston Company, we have always believed in continuous improvement in our research process and approach. Combining The Boston Company with Mellon Capital and Standish will allow us to maintain the entrepreneurial spirit of our team-based investment processes, while positioning us to be better supported with robust risk, quant, trading, macro, and compliance capabilities. It’s very exciting for us, for our clients, and for our industry.”

David joined The Boston Company in 1998 and is a senior managing director and head of the Opportunistic Value strategies. He is also a member of The Boston Company’s Board of Managers as well as the firm’s Investment and Management Committees. He joined The Boston Company as an equity analyst on the Opportunistic Value team, was named a portfolio manager in 2003 and became lead portfolio manager of the team in 2005. Before his tenure at The Boston Company, he served as a senior consultant with Deloitte & Touche Consulting Group, and he also worked at The Dannon Co. David earned a B.S. in mechanical engineering and a minor in macroeconomics from Rensselaer Polytechnic Institute and an M.B.A. with honors from New York University’s Stern School of Business.

David Daglio, CFA®
Head of Opportunistic Value at The Boston Company
CIO designee for Active Equity
David Leduc, CFA®
Chief Executive Officer & Chief Investment Officer at Standish
CIO designee for Active Fixed Income

“The most important part of this combination for me is the ability and opportunity to work with my fellow CIOs to drive and help shape the investment organization. I have known Dave and Jeff for some time and am excited about the opportunity to collaborate more closely with them. We are already working together to leverage capabilities to reinforce our specialist capabilities while exploring ways to enhance fundamental and macro thematic research.”

David is Chief Executive Officer and Chief Investment Officer responsible for overseeing all investment management activities at Standish. He is a member of the Standish Board of Managers, Risk & Compliance Committee, and New Business Acceptance Committee. David has held a number of leadership positions during his tenure at Standish, including Chief Investment Officer of Active Fixed Income, Managing Director of Global Fixed Income and Senior Portfolio Manager for global credit strategies. David joined Standish in 1995 as a portfolio manager and analyst for US domestic fixed income, moving from structured finance to global strategies in 1999. Prior to joining Standish, David spent seven years as an Investment Officer at State Street. He has an MBA from Boston University and a BS from the University of Rhode Island. David holds the CFA designation® and has 30 years of investment experience.

“Together, we are creating a specialist multi-asset investment manager with wide-ranging capabilities that will draw upon our respective expertise. The combined business promises to be a powerful combination that meets shifts in the marketplace and evolving client needs.”

Jeff Zhang is currently the Chief Investment Officer at Mellon Capital. In this role, he provides leadership on all investment strategies and solutions at Mellon Capital, as well as management of the firm’s investment teams, including portfolio management, research, trading, and strategist groups. Jeff chairs the Investment Management Committee, Investment Research Committee and ESG Committee of Mellon Capital. He is a member of Mellon Capital’s Board of Directors, Executive Planning Group, Fiduciary Committee, Risk Management Committee, IT Steering Committee, and Senior Management Group. Prior to his current role, he led the research and development of the Global Tactical Asset Allocation® and active currency strategies. Jeff has been in the investment industry since 1994. He first joined Mellon Capital in 1997. In 2004, he served as partner and cofounder at Bayswater Asset Management LLC in San Francisco for four years before returning to Mellon Capital in 2009. His prior experience includes performing equity research on the real estate investment trust (REIT) industry at Salomon Smith Barney. Jeff is a member of CFA Institute®. He earned an MBA from Yale University and a BS from Peking University.

Jeff Zhang, CFA®
Chief Investment Officer at Mellon Capital
CIO designee for Multi-Asset, Index and Smart Beta

For More Information

Visit the Investment Boutiques

 

Media Contacts

Stan Neve
Global Head of Communications,
BNY Mellon Investment Management
212-635-7314
stan.neve@bnymellon.com

Andrew Conn
Director of North America Communications,
BNY Mellon Investment Management
212-635-7823
andrew.conn@bnymellon.com

*Assets under management (AUM) as of September 30, 2017. This figure includes assets managed by investment personnel of The Boston Company Asset Management, LLC, Standish Mellon Asset Management Company LLC, and Mellon Capital Management Corporation, including overlay strategy assets, and assets managed by such personnel acting as dual officers of The Dreyfus Corporation or The Bank of New York Mellon. High yield assets and mortgage assets included in AUM are managed by personnel of Alcentra NY and Amherst Capital Management LLC, respectively, acting as dual officers of Standish. Standish, Dreyfus, Alcentra, Amherst Capital and The Bank of New York Mellon are subsidiaries of The Bank of New York Mellon Corporation.

**According to to eVestment data as of Q3 2017

***According to 2016 data published by Pensions & Investments

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