Internal asset management consolidation at BNY Mellon

|By:, SA News Editor

via the FT

There's an increasing need for scale in the investment management industry, and Bank of New York Mellon (NYSE:BK) is finding opportunity to build that scale inside of its own company.

The bank will be merging three of its boutique investment units into one combined business with $560B in AUM. That $560B would rank the operation in the top-10 of institutional managers in the U.S. and top 50 globally, according to BNYM.

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