According to a news release from Mellon Financial Corporation, which owns TBCAM, the move is designed to better meet the needs of institutional clients interested in active equity products.
As a first step, the equity group of Standish Mellon Asset Management and the large-capitalization growth investment team of Mellon Growth Advisors will move to the TBCAM platform. These units will retain their current personnel. The initial investments will boost TBCAM’s assets under management by almost $3 billion, bringing its total asset base to $24 billion.
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