Mellon Financial Corp. has announced the closing of its purchase of DPM, a Somerset, N.J., hedge fund administrator.
DPM has 91 clients with $30 billion of assets and will operate as DPM Mellon within the Pittsburgh banking company's asset servicing business, it said on Monday.
DPM Mellon's hedge fund services include middle- and back-office outsourcing, complex portfolio valuations, risk analysis, and transparency. Robert M. Aaron will remain its chief executive officer.
The nation's largest bank is optimistic about its overall performance this year, but CEO Jamie Dimon still thinks there's a bigger chance of stagflation than markets are anticipating.
The Cincinnati-based bank has partnered with the fintech Trust & Will to make estate planning easy, accessible — and free.
The Consumer Financial Protection Bureau has withdrawn guidance that allowed states to bring enforcement actions broadly under federal consumer protection laws.
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The Connecticut-based community bank announced a raft of new board and executive appointments, giving shape to a new strategy aimed at winning more business from high-net-worth individuals.
The tentative settlement represents a step toward resolving an issue that hung over Capital One's acquisition of Discover. That blockbuster deal closed on Sunday.
