Mellon to Buy Cleveland Money Manager

April 29, 2002 ( - Mellon Financial Corporation has agreed to acquire a Cleveland investment management firm serving retirement firms, non-profit organization, and high net worth clients.

With branch offices on Columbus, Ohio and Paducah, Kentucky, Weber Fulton & Felman is expected to add about $800 million in assets under management and administration for Mellon. Terms of the deal were not disclosed.

The latest acquisition will become part of Mellon’s expanding Private Wealth Management group, which has also acquired two other money management firms, The Trust Company of Washington and Van Deventer & Hoch of Glendale, California in the last 18 months.

Mellon’s Private Wealth Management group maintains more than 60 offices nationwide.