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$600 MILLION DEAL: Mellon Financial expected to buy Standish Ayer & Wood.(Brief Article)(Statistical Data Included)

Pensions & Investments, April, 2001 by Kovaleski, Dave

BOSTON - Mellon Financial Corp. is expected to buy Standish Ayer & Wood Inc. Inc., for an estimated $600 million, sources said. Ronald P. O'Hanley, president of Mellon Institutional Asset Management, Boston, said through a spokeswoman that the company does not comment ``on rumor and speculation.'' Standish Ayer & Wood President and Chief Executive Officer Richard Wood did not return phone calls by press time.

Standish is a 68-year-old money manager based in Boston, with $43.5 billion in assets under management, primarily in fixed-income strategies. Mellon Financial Corp, based in Pittsburgh, has $530 billion in asset under management in 12 different affiliates such as Dreyfus Corp., New York; Founders Asset Management, Denver; The Boston Co., Boston;...

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