Mellon Growth Advisors and Standish Mellons equity group, both affiliates of Mellon Institutional Asset Management, will be merged into The Boston Co. Asset Management, according to Mellon. The merger raises TBCAMs institutional assets under management by $3 billion, to $24 billion.
Corey Griffin remains president and CEO at TBCAM. David Cameron, head of equity strategies at Standish Mellon, will lead the new teams at TBCAM. Frank Antin, CEO of Mellon Growth, remains chairman of TBCAM. Last month, Mellon Institutional consolidated its institutional fixed-income operations under Standish Mellon.
Ronald OHanley, president of Mellon Institutional, said the merger reflects the firms "broad and deep commitment to enhanced research.
Portfolio managers David Smith and Edward Allinson, two of the three founders of Mellon Growth, were terminated as a result of the merger, Mr. OHanley said. The third, Emerson Tuttle, remains with TBCAM as a growth portfolio manager. Messrs. Smith and Allinson could not be reached for comment by press time.