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Encyclopedia > Mellon Financial

This company has completed its merger with Bank of New York for current information, See The Bank of New York Mellon The Bank of New York Mellon Corporation (NYSE: BK), is a global financial services company formed on 2 July 2007 as result of the merger of The Bank of New York and Mellon Financial Corporation. ...

Mellon Financial Corporation
Type Defunct (Merged with Bank of New York 2007)
Founded 1869
Headquarters Pittsburgh, Pennsylvania
Key people Robert P. Kelly, CEO
Ronald O'Hanley, Vice Chairman
Frank Cahouet, President
Industry Financials
Products Financial Services
Revenue Image:green up.png$4.94 billion USD (2004)
Employees 19,400
Slogan The Difference is Measurable
Website www.mellon.com
Corporate headquarters, One Mellon Center in Pittsburgh, at night.
Corporate headquarters, One Mellon Center in Pittsburgh, at night.

Mellon Financial Corporation, (NYSEMEL) based in Pittsburgh, Pennsylvania, is one of the world's largest money management firms. It is in the business of institutional and high-net-worth-individual asset management, including the Dreyfus family of mutual funds; business banking; and shareholder and investor services. On December 4, 2006 it announced a merger agreement with Bank of New York, to form the Bank of New York Mellon Corporation. After regulatory and shareholder approval, the banks completed the merger on July 2, 2007. Image File history File links Mellon Financial Corporation logo File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... 1869 (MDCCCLXIX) is a common year starting on Friday (link will take you to calendar) of the Gregorian calendar or a common year starting on Sunday of the 12-day-slower Julian calendar. ... Image File history File links Flag_of_Pittsburgh,_Pennsylvania. ... “Pittsburgh” redirects here. ... Born 1954 is the CEO of Mellon Financial. ... Finance studies and addresses the ways in which individuals, businesses and organizations raise, allocate, and use monetary resources over time, taking into account the risks entailed in their projects. ... Financial services is a term used to refer to the services provided by the finance industry. ... Look up revenue in Wiktionary, the free dictionary. ... Green up arrow for a positive change in revenue from last fiscal year. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 2. ... Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... This article is about work. ... Look up slogan in Wiktionary, the free dictionary. ... A website (alternatively, Web site or web site) is a collection of Web pages, images, videos and other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN. A Web page is a document, typically written in HTML... Image File history File links Metadata Size of this preview: 423 × 599 pixelsFull resolution (2230 × 3160 pixel, file size: 1. ... Image File history File links Metadata Size of this preview: 423 × 599 pixelsFull resolution (2230 × 3160 pixel, file size: 1. ... One Mellon Center is the second tallest skyscraper in Pittsburgh, Pennsylvania and the 195th tallest skyscraper in the world (see List of skyscrapers). ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ... “Pittsburgh” redirects here. ... The central idea of a mutual fund is to enable investors to pool their money and place it under professional investment management. ... For other uses, see Bank (disambiguation). ... A shareholder or stockholder is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company. ... An investor is any party that makes an investment. ... is the 338th day of the year (339th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... The phrase mergers and acquisitions or M&A refers to the aspect of corporate finance strategy and management dealing with the merging and acquiring of different companies as well as assets. ... The Bank of New York (NYSE: BK), sometimes BNY, is a global financial services company operating in four primary business areas: Securities servicing Treasury management Investment management Private banking Bank of New York and Mellon Financial Corporation will merge. ... The Bank of New York Mellon Corporation (NYSE: BK), is a global financial services company formed on 2 July 2007 as result of the merger of The Bank of New York and Mellon Financial Corporation. ...

Contents

History

Mellon was founded in 1869 by Thomas Mellon and his sons Andrew W. Mellon and Richard B. Mellon, as T. Mellon & Sons' Bank. In 1902, the institution became Mellon National Bank. Image File history File links Broom_icon. ... Prose is writing distinguished from poetry by its greater variety of rhythm and its closer resemblance to the patterns of everyday speech. ... 1869 (MDCCCLXIX) is a common year starting on Friday (link will take you to calendar) of the Gregorian calendar or a common year starting on Sunday of the 12-day-slower Julian calendar. ... Thomas Alexander Mellon (February 3, 1813 – February 3, 1908) was an American entrepreneur, lawyer, and judge, best known as the founder of Mellon Bank and patriarch of the Mellon family of Pittsburgh, Pennsylvania. ... Andrew William Mellon (March 24, 1855 — August 27, 1937) was an American banker, industrialist, philanthropist, art collector and Secretary of the Treasury from March 4, 1921 until February 12, 1932. ... Richard B. Mellon was the brother of Andrew W. Mellon. ... 1902 (MCMII) was a common year starting on Wednesday (see link for calendar). ...


Mellon Bank was the driving force behind the vast majority of the industrial revolution, especially in the mid-west region. The Mellon family using the bank as a proxy had direct involvement with founding the modern aluminium, oil, consumer electronics and financial industries. Alcoa, Gulf Oil (now Chevron-Texaco), Westinghouse (now CBS Corporation and Siemens) and Rockwell, all were directly founded and managed by the bank. U.S. Steel (the world's first billion dollar corporation), Heinz, General Motors, Koppers and ExxonMobil (as Rockefeller's Standard Oil) were born and nutured by Mellon. This article is about the company. ... Gulf Oil was a major global oil company from the 1900s to the 1980s. ... The name Westinghouse can refer to any number of devices and independent businesses that trace their roots to the work of George Westinghouse: People George Westinghouse, founder of Westinghouse Electric Corporation Places George Westinghouse Bridge in East Pittsburgh, Pennsylvania Westinghouse Park in Pittsburgh, Pennsylvania Devices Westinghouse air brake, patented by... CBS Corporation (NYSE: CBS) is an American media conglomerate focused on broadcasting, publishing, billboards, and television production, with most of its operations in the United States. ... Siemens has the following uses: Siemens is a German family name carried by generations of the telecommunications industrialists, including Werner von Siemens, Sir William Siemens, Wilhelm von Siemens and Peter von Siemens Siemens AG is a German electrical and telecommunications company, founded as a telegraph equipment manufacturer by Werner von... Rockwell can refer to: Rockwell International - a defense company in the United States Rockwell Automation - an industrial automation company that descended from Rockwell International Rockwell Collins - a communications and aviation electronics company that also descended from Rockwell International Willard Rockwell - businessman who helped shape and name what became Rockwell International... The United States Steel Corporation (NYSE: X) is an integrated steel producer with major production operations in the United States and Central Europe. ... Heinz has several meanings: Heinz is the common trading name for the H. J. Heinz Company, known for their pickles, ketchup, baked beans and soups. ... General Motors Corporation, also known as GM or The General, an American multinational corporation, is the worlds largest auto company. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... For other uses, see Exon (disambiguation). ...


In 1920 Andrew left his leadership post of the bank to become the longest serving U.S. Treasury Secretary in history (serving under three separate administrations). The United States Secretary of the Treasury is the finance minister of the Federal Government of the United States. ...


In 1929, Richard founded Mellbank Corporation. In 1946, Mellon National, Mellbank, and the Union Trust Company merged to form Mellon National Bank and Trust Company.


A reorganization in 1972 brought about a name change to Mellon Bank, N.A. and the formation of a holding company, Mellon National Corporation. Year 1972 (MCMLXXII) was a leap year starting on Saturday (link will display full calendar) of the Gregorian calendar. ...


In 1983, Mellon bought Girard Bank of Philadelphia and Central Counties Bank of State College, Pennsylvania. The next year, Mellon National Corporation became Mellon Bank Corporation, and purchased Northwest Pennsylvania Corporation of Oil City, Pennsylvania. For other uses, see Philadelphia (disambiguation) and Philly. ... “State College” redirects here. ... Oil City is a city in Venango County, Pennsylvania noted especially in the instrumental exploration and development of the petroleum industry. ...


In 1986, Mellon bought Commonwealth National Financial of Harrisburg, Pennsylvania. Four years later, in 1990, Mellon bought 54 branch offices of Philadelphia-based PSFS, the first savings bank in the United States, founded in 1819. Location in Dauphin County and state of Pennsylvania Coordinates: , Country Commonwealth County Dauphin Incorporated 1791 Charter 1860 Government  - Mayor Stephen R. Reed (D) Area  - City  11. ... The Philadelphia Saving Fund Society Building Founded on December 20, 1816, in Philadelphia, Pennsylvania, PSFS, or the Philadelphia Saving Fund Society, was the first savings bank in the United States. ...


In 1991, Mellon bought United Penn Bank of Wilkes-Barre, Pennsylvania. The next year, Mellon acquired the rest of PSFS, whose parent company had become insolvent. Wilkes-Barre (IPA: , , or [1]) is the central city of the Wyoming Valley and county seat of Luzerne County in northeastern Pennsylvania. ...


In 1993, Mellon bought The Boston Company from American Express and AFCO Credit Corporation from The Continental Corporation. The next year, Mellon merged with The Dreyfus Corporation, bringing its mutual funds under its umbrella. American Express (NYSE: AXP), sometimes known as AmEx or Amex, is a diversified global financial services company, headquartered in New York City. ...


1998 saw Mellon's purchase of United Bankshares, Inc., of Miami, 1st Business Bank of Los Angeles, and Founders Asset Management. Nickname: Location in Miami-Dade County and the state of Florida Coordinates: , Country State County Miami-Dade Incorporated July 28, 1896 Government  - Type Mayor-Commissioner Plan  - Mayor Manny Diaz (I)  - City Manager Pedro G. Hernandez  - City Attorney Jorge L. Fernandez  - City Clerk Priscilla Thompson Area  - City  55. ... Los Angeles and L.A. redirect here. ...


In 1999, Martin G. McGuinn became chairman and chief executive officer of Mellon Bank Corporation. Mellon Bank Corporation then became Mellon Financial Corporation. Two years later, it sold its retail banking operations to Citizens Financial Group. Citizens Financial Group, Inc. ...


In 2004, Mellon announced it would purchase Safeco Trust Company from Seattle-based Safeco Corporation. The same year, it purchased outstanding shares in London-based Pareto Partners and offered them floor space in Mellon Financial Centre (opened earlier in the year). City nickname Emerald City City bird Great Blue Heron City flower Dahlia City mottos The City of Flowers The City of Goodwill City song Seattle, the Peerless City Mayor Greg Nickels County King County Area   - Total   - Land   - Water   - % water 369. ... Safeco Corporation (NASDAQ: SAFC) is a major US-American national insurance company. ... This article is about the capital of England and the United Kingdom. ...


In 2006, Mellon announced its plans to merge with Bank of New York.


July 1, 2007, merged with Bank of New York to become the Bank of New York Mellon Corporation. Headquarters of the new company are located in New York. It is the world's largest securities servicing firm and one of the world's top ten asset managing firms.


These two companies, along with State Street, followed essentially the same evolution. All were originally large diversified financial service providers, particularly in the corporate banking space in the regions they were located in. However competition in the corporate loans and retail banking businesses saw them jettison these operations in favor of what were believed to be more stable, fee based business: asset management (ie. investment management in the form of mutual funds and other separately managed accounts) and asset servicing (ie. corporate trust, stock transfer services and American Depository Receipts). State Street Corporation (NYSE: STT) is a financial services company based in Boston, Massachusetts. ... Asset management is the method that a company uses to track fixed assets, for example factory equipment, desks and chairs, computers, even buildings. ... Investment management is the professional management of various securities (shares, bonds etc) assets (e. ... A corporate trust is a trust created by a corporation. ...


Mellon is a large provider of what are known as controlled disbursement accounts. These are checking accounts in specialized locations which are given early warning by the Federal Reserve as to what checks will be clearing them. Companies can then transfer the exact amount needed to pay those checks, while then investing the unneeded money or using other funds to pay down debt.


At 2007, Mellon is the new official sponsor of the new Formula 1team Hapen Racing,buyed byMario Lemieuxand George Gillettand they hosted the first Atlantic Grand Prix at [[Pittsburgh]. Formula One, abbreviated to F1 and also known as Grand Prix racing, is the highest class of single-seat open-wheel auto racing. ... Mario Lemieux (born October 5, 1965, in Montreal, Quebec, Canada) is a retired professional ice hockey centre who played 17 seasons for the Pittsburgh Penguins of the National Hockey League between 1984 and 2006. ... George Gillett is the name of several people, including: George A. Gillett (1877–1956), New Zealand rugby union footballer George N. Gillett Jr. ...


Wholly owned subsidiaries

  • The Dreyfus Corporation
  • The Boston Company Asset Management
  • Newton Investment Management
  • Mellon Capital Management
  • Eagle Investment Systems
  • Standish Mellon
  • Mellon Ventures, Inc.
  • DPM Mellon
  • Pareto Partners
  • Mellon Analytical Solutions

Dreyfus Corporation is a leading mutual fund financial firm founded in 1951. ... Mellon Financial Corporation, NYSE: MEL based in Pittsburgh, Pennsylvania, is one of the worlds largest money management firms. ...

Joint ventures

  • CIBC Mellon (Canada)
  • ABN-AMRO/Mellon (Northern Europe)
  • WestLB/Mellon (Central Europe)

See also

  • Michael Allan Bryson

There are very few or no other articles that link to this one. ...

External links


  Results from FactBites:
 
Andrew W. Mellon: Definition and Much More from Answers.com (1889 words)
Mellon, a staunch conservative, entered politics through connections with such Pennsylvania Republican leaders as Boies Penrose and Philander C. Knox; through their influence he was appointed secretary of the treasury by Warren G. Harding in 1921.
Mellon and Sons, two years later and had the ownership of the bank transferred to him in 1882 at the age of 27.
As a conservative Republican and a financier, Mellon was irritated by the manner in which the government's budget was maintained, with expenses due now and rising rapidly, with income or revenues not keeping pace with those expense increases, and with the lack of savings.
  More results at FactBites »

 
 

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