Citizens Financial Group, Providence, R.I., hired Mellon Financial to manage an international equity portfolio of undetermined size for its $390 million pension plan, using a blend of growth and value styles, including emerging markets. The Boston Co. will handle the value and emerging markets portions, while Newton Investment Management will subadvise the growth assets; the split will be roughly 50-50. Both managers are Mellon subsidiaries.
The assets were managed internally.
