The year-and-a-half extension of its chairman's contract means Mellon Bank Corp. probably won't be sold anytime soon, analysts say.

Frank V. Cahouet, 63, was due to retire May 31, 1997. He is now to remain chairman, chief executive, and president of the Pittsburgh-based bank until December 1998.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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