Articles > Popular publications > The Boston Globe (Boston, MA) news wires > April 1995

Article: Boston Co. exodus spreads

Article from:
The Boston Globe (Boston, MA)
Article date:
April 25, 1995
Author:
Copyright

A new wave of defections swept through Mellon Bank Corp.'s Boston Co. subsidiary yesterday in reaction to Mellon's attempt over the weekend to tie top executives to the unit with employment contracts.

At least 11 Boston Co. executives resigned yesterday to join Boston Partners Asset Management, an investment firm formed by Desmond Heathwood, who quit last week as the head of Boston Co. Asset Management Inc. In all, about 20 of the 150 employees in the Boston Co. unit have signed on with Heathwood since last week.

Christopher (Kip) Condron, vice chairman of Mellon and Boston Co., said he forced the latest resignations to remove "uncertainty" in the organization. He downplayed the ...

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