Mellon Separate Accounts Boosted by Ashland Buy
November 18, 2002
Mellon Financial has completed the acquisition of the separate accounts division of Ashland Management. Mellon said the move gives its subsidiary, Dreyfus Service Corp., an additional $566 million in separate account assets under management, bringing the total to more than $3 billion. The all-cash deal was announced on Sept. 12. However, terms of the acquisition were not disclosed.