Brown & Company Completes Acquisition of Dreyfus Brokerage Services, Mellon Financial's Online Broker.Business Editors BOSTON--(BUSINESS WIRE)--February 1, 2002 Brown & Company, the online brokerage unit of J.P. Morgan Chase & Co. (NYSE NYSE See: New York Stock Exchange : JPM JPM J. P. Morgan Chase & Co. (stock symbol) JPM Juan Pablo Montoya (formula 1 driver) JPM Jabatan Perdana Menteri (Malaysia) JPM Journal of Property Management ), today said that it completed the acquisition of Dreyfus Brokerage Services, the online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. business of Mellon Financial Corporation (NYSE: MEL (Maya Embedded Language) See Maya. Mel - The story of Mel ). The acquisition includes approximately 75,000 accounts and approximately $6 billion of assets in safekeeping Safekeeping The storage of assets or other items of value in a protected area. Notes: Individuals may use self-directed methods of safekeeping or the services of a bank or brokerage firm. . Terms of the all-cash deal were not disclosed. Brown & Company, a wholly-owned subsidiary of J.P. Morgan Chase & Co., is the seventh largest online brokerage firm nationwide. Brown & Company (www.brownco.com) is an online discount broker for experienced investors who make their own investment decisions, and who are willing and able to manage their own accounts. It is headquartered in Boston, Mass. J.P. Morgan Chase & Co. is a leading global financial services firm with assets of more than $694 billion and operations in more than 50 countries. With relationships with over 99% of the Fortune 1000 companies, the firm is a leader in investment banking, asset management, private banking, private equity, custody and transaction services, and retail and middle market financial services. A component of the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. , JPMorgan Chase is headquartered in New York and serves more than 30 million consumer customers and the world's most prominent corporate, institutional and government clients. Information about JPMorgan Chase is available on the Internet at www.jpmorganchase.com. Mellon Financial Corporation (NYSE: MEL) is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and affluent individuals, providing institutional asset management, mutual funds, private wealth management, trust and custody, human resources consulting and outsourcing services, investor services and cash management. Mellon has more than $2.6 trillion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , administration or custody, including more than $590 billion under management. Its asset management companies include The Dreyfus Corporation and U.K.-based Newton Investment Management. News and other information about Mellon is available at www.mellon.com. |
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