BNY Mellon Investment Management (BNY Mellon IM) has revealed plans to launch a specialist multi-asset investment manager in 2018.
The new business will integrate the company’s three largest US investment managers — Mellon Capital Management (MCM), Standish Mellon Asset Management (Standish), and The Boston Company Asset Management (TBCAM).
It will offer institutional and intermediary clients high quality single and multi-asset investment strategies in both active and passive solutions, the company said.
The combined business will have more than $560bn in asset under management (AUM) and will employ more than 300 investment professionals. It will have offices in Boston, San Francisco and Pittsburgh, London, Singapore and Hong Kong.
BNY Mellon Investment Management CEO Mitchell Harris said: “Clients are increasingly looking for specialist managers with differentiated investment strategies and competitive pricing. This requires scale in risk management, technology and operations to deliver upon these needs.
“This combined U.S. business will give clients unified access to our intellectual capital in multi-asset strategies, alongside a strengthened investment process and an optimized platform with increased resources to deliver innovative and competitively-priced solutions.
“Today’s investment environment is evolving rapidly, and BNY Mellon’s multi-boutique model is well positioned to offer specialist active and passive solutions from our bench of leading investment managers,” Harris added.
BNY Mellon IM had more than $1.8 trillion in assets under management (AUM) as on 30 September 2017.