Hilary Woods and Paul Kandel, senior portfolio managers at Mellon Financial subsidiary Dreyfus Investment Management, will leave the firm at the end of the month, the two said in separate interviews. Ms. Woods and Mr. Kandel manage a combined $4.5 billion in small-cap and midcap equities for institutional and mutual fund clients. Neither portfolio manager offered specific details of their plans; Ms. Woods said the timing of the two departures is "coincidental" and the two will pursue separate opportunities. She has been with Dreyfus for 18 years, and Mr. Kandel has been with the firm for more than 10 years.
The $1.5 billion institutional accounts run by Ms. Woods and Mr. Kandel will be managed by The Boston Co. Asset Management, also Mellon subsidiary, Patrice M. Kozlowski, spokeswoman for Dreyfus Corp., said in an e-mail. The retail and mutual fund assets will be shifted to Mellon affiliate Franklin Portfolio Associates, she said.