PITTSBURGH - Mellon Financial Corp. has stamped its name on Newton Asset Management Ltd., its London-based asset management unit, for all markets except the United Kingdom.Ronald O'Hanley, president of Mellon's institutional and international asset management businesses, said the Mellon brand was better known in Europe, Latin America, and Hong Kong, where Newton distributes unit trusts and mutual funds. Mellon bought a majority stake in the company in October 1998.
Mellon Newton Asset Management Ltd. will also distribute its parent company's full range of investment products, including products from Boston Company Asset Management and Dreyfus Corp. Currently Newton distributes only its own products, Mr. O'Hanley said. Mellon Newton manages more than $28.26 billion of assets.