Mellon Financial agreed to acquire high-net-worth manager Paragon...

Mellon Financial agreed to acquire high-net-worth manager Paragon Asset Management, said Joe Ailinger. Terms were not disclosed. Paragon has $600 million under management. The acquisition will be the sixth for Mellon's Private Wealth Management Group, which manages more than $75 billion in client assets, in the past four years. Paragon will be absorbed into the Mellon group.