Mellon Financial President Condron Moving to AXA Financial

May 16, 2001 ( - Mellon Financial Corporation announced that Christopher M "Kip" Condron, president and head of its mutual fund business, has resigned to join French insurer, AXA Financial, Inc. as president and CEO of the group's US arm.

Condron, 53, had run Mellon’s Dreyfus family of mutual funds since 1995, and was named Mellon’s president and COO in 1999. Previously, he was vice chairman of money manager and trust company The Boston Co., which Mellon bought in 1993.

He will replace Edward Miller , 60,as president and CEO of AXA Financial and will become a member of AXA’s management board.

Miller, will remain a member of AXA Group’s supervisory board and a senior advisor to Henri de Castries, AXA’s CEO. Miller joined AXA from Chase Manhattan in 1997.

Axa Financial includes U.S. life insurer Equitable Life, brokerage firm Sanford C. Bernstein, and most of money manager Alliance Capital Management LP.

Later in the day Mellon Financial named Stephen Canter to head its Dreyfus mutual fund family, replacing Condron. Canter had been president, COO and chief investment officer of Dreyfus.