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Article: BNY Mellon Asset Unit Seeks Small Foreign Buys.(Wealth Management)(BNY Mellon Asset Management)
- Article from:
- American Banker
- Article date:
- February 11, 2009
- Author:
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Byline: Matt Ackermann
BNY Mellon Asset Management's acquisition of fund units in London and Australia is part of its strategy to expand "opportunistically" overseas - including potentially in Asia - as competitors contract, a top officer says.
Jon Little, a vice chairman at the Bank of New York Mellon Corp. unit, said the two fund units - Blackfriars Asset Management in London and Ankura Capital in Sydney - added only about $3 billion of assets under management but could pay bigger dividends down the road. They were launched Monday as wholly owned units of BNY Mellon Asset Management after a December deal with Germany's WestLB.
Mr. Little said ...