Mellon Bank Corp.'s recent agreements to acquire two leasing portfolios reflect a desire to diversify in asset-based lending - and to improve returns on traditional assets.

The deals - bringing $1.5 billion of assets from a Ford Motor Co. subsidiary and $150 million from the purchase announced this week of First United Leasing Corp. - put Mellon "in all three segments of leasing," said Jeffery L. Leininger, vice chairman for specialized commercial banking.

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.