Printer Friendly

MELLON BANK AND CREDIT COMMERCIAL DE FRANCE FORM INVESTMENT MANAGEMENT PARTNERSHIP

 MELLON BANK AND CREDIT COMMERCIAL DE FRANCE
 FORM INVESTMENT MANAGEMENT PARTNERSHIP
 PITTSBURGH, July 23 /PRNewswire/ -- Mellon Bank Corp. (NYSE: MEL) and Credit Commercial de France (CCF) today announced the formation of CCF-Mellon Partners.
 Mellon and CCF will be equal partners in this alliance, which will market investment advisory and discretionary money management services in the United States and Europe.
 CCF-Mellon Partners will market Mellon's quantitative investment management services in Europe and CCF's quantitative investment management services in North America. Subject to regulatory approval, CCF-Mellon Partners is expected to be operational in the fourth quarter of 1992.
 "CCF-Mellon partners is a union of two of the top quantitative investment managers in the world," said Frank V. Cahouet, chairman, president and chief executive officer of Mellon Bank Corp. "With this partnership, both organizations can access new geographic markets more efficiently and at lower expense than otherwise would be possible."
 "Through this partnership, CCF and Mellon will supplement each others' existing investment management services," said Michel Pebereau, chairman and chief executive officer of Credit Commercial de France. "For example, we bring to North American clients the perspective and specific expertise of an investment manager based on the European continent, while Mellon brings to European clients a great variety of investment management options from its U.S.-based subsidiaries, and both institutions benefit by being able to do this through existing resources rather than incurring the capital outlay and cost of a start-up firm."
 CCF-Mellon Partners will be headquartered in Pittsburgh. William F. Adam of Mellon Bond Associates will serve as managing director and Pierre-Edouard de la Tour of CCF will serve as deputy managing director of the partnership. Adam and de la Tour will be responsible for marketing the variety of investment management products available through CCF-Mellon Partners from Mellon Bank Corp. and Credit Commercial de France.
 CCF has been active in investment management since 1945. The group had more than $23 billion in assets under management at March 31, 1992, and offers a complete range of services to private and institutional clients in Europe and abroad.
 Through its specialized subsidiary, CCF-Structured Asset Management (CCF-SAM), CCF has acquired a level of expertise in quantitative investment management that makes it one of the leaders in Europe in this area.
 CCF also manages assets in London through the Framlington Group, in Geneva through Handelsfinanz-CCF Bank, and in Tokyo through Japan Gamma.
 The CCF Group is the 10th largest bank in France with total assets at Dec. 31, 1991, of $58 billion. It has concentrated its business in four areas: domestic retail banking; investment banking; asset management; and international private banking.
 With more than $85 billion in assets under management and $350 billion under administration as custodian or trustee, Mellon Bank Corp. is one of the leading trust and investment management organizations in the United States.
 Mellon offers a comprehensive range of investment and other services to corporate pension funds, foundations and endowments, financial institutions and private clients. In addition to CCF-Mellon Partners, Mellon's other investment subsidiaries include: Franklin Portfolio Associates, Boston; Mellon Capital Management and Mellon/McMahan Real Estate Advisors, San Francisco; Pareto Partners, London; and Mellon Bond Associates, Mellon Equity Associates and Laurel Capital Advisors, all based in Pittsburgh.
 With assets of approximately $30 billion, Mellon Bank Corp. is a major superregional bank holding company. Through its subsidiaries, it provides wholesale, retail and middle market banking as well as numerous service products including trust and investment, cash management, and information processing services.
 /delval/
 -0- 7/23/92
 /CONTACT: Thomas W. Butch, 412-234-6436, or Debra DeCourcy, 412-234-5873, both of Mellon Bank, or Chantal Nedjib of Credit Commercial de France, 011-331-4070-7040/
 (MEL) CO: Mellon Bank Corp.; Credit Commercial de France ST: Pennsylvania IN: FIN SU: JVN


DM -- PG003 -- 2248 07/23/92 07:55 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 23, 1992
Words:629
Previous Article:IN FOCUS SYSTEMS ANNOUNCES SECOND-QUARTER RESULTS
Next Article:ALDUS ANNOUNCES INCREASE IN COMMON-STOCK REPURCHASE PROGRAM
Topics:


Related Articles
MELLON APPOINTS TWO TO VICE CHAIRMAN POSTS
LAWRENCE S. KASH NAMED EXECUTIVE VICE PRESIDENT AT MELLON BANK
MELLON PSFS INTRODUCES 13.9 PERCENT CREDIT CARD; OFFERS LOWEST OVERALL RATE IN ITS MARKET
MELLON SIGNS NATIONAL STEEL TO OUTSOURCING CONTRACT
MELLON OFFERS NEW SMART ACCOUNTsm PRODUCT PACKAGES
WALTER R. DAY, III NAMED CHIEF COMMUNITY INVESTMENT OFFICER AT MELLON BANK CORPORATION
ROBERT PARKINSON AND JOHN CHESKO NAMED EXECUTIVE VICE PRESIDENTS AT MELLON BANK CORPORATION
MELLON COMPLETES ACQUISITION OF INVESTMENT MANAGEMENT BUSINESS OF CERTUS FINANCIAL CORP.
DCR Rates Mellon Bank Corp. 'A+'
Mellon Completes Acquisition of United National Bank

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters