Mellon Bank

As a money manager, the Mellon group is a big player. As the manager of Dreyfus mutual funds, and with shareholder and investor services as well as a business banking arm, the Mellon group holds quite a bit of sway. They have recently merged with the Bank of New York and are a group on the move. While the Mellon Bank fro Pittsburgh no longer exists, there is a lot of discussion about how the Mellon & Bank of New York scenario will play out and there are many pensive eyes looking towards all this with peculiar interest.

Mellon Bank slowly went on eating up all sorts of competitors in the 1980’s & 1990’s in and around the area in Pennsylvania, Boston, even Los Angeles as they continued to build and grow. Then, abruptly, in 2001 Mellon Bank sold all of their retail banking operations to focus in on it’s investment banking services.

Mellon was all the better for it as they continued buying up securities and properties and then, in 2007 they merged with the Bank of New York and, together re the worlds largest securities firm as well as being one of the top ten asset management firms in the world. This is the realm where Mellon can concentrate their energies in a focused manner without being weighed down by the day to day operations of running a bank or handling any customers who aren’t the ones with the most money.

You really needn’t go any further than the history of Mellon Bank to understand what this decision was all about. As a class of investor the one with the most money and who is willing to pay the most fees for the biggest return are the ones you want to be doing business with. By attracting the best money you, in turn, are able to attract the best talent in investment and are able to maintain the best asset managers on your team, which, reciprocally, attracts the best money.

In order to find out more about Mellon bank and the latest information your best bet is to have a lot of money and make sure that Mellon bank is calling you. While we can’t all make that a reality there are a few places you can go to ascertain some of this information and these are the places you should begin your search. While no one ever said finding the Holy Grail was easy and that making your first million would happen overnight, it’s comforting to know that a group like Mellon and their now defunct Mellon Bank can help to make that dream a reality…If you’ve got the start up cash to boot!