PITTSBURGH — Mellon Financial Corp. agreed to purchase the remaining 25% of Newton Management Ltd., an asset management firm based in London.

Mellon, which acquired 75% of Newton in October 1998, was anticipating buying out the remaining shareholders in 2002, but Newton’s performance numbers were far better than anticipated, according to Ron O’Hanley, president of Mellon International Asset Management.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.