MERGING INTERESTS: Mellon Financial buys fixed-income prowess; Standish brings bond power to the table in creation of $560 billion money manager.(Standish Ayer and Wood Inc.)(Brief Article)(Statistical Data Included)

Pensions & Investments, April, 2001 by Kovaleski, Dave

BOSTON - Standish, Ayer & Wood Inc., which was acquired last week by Mellon Financial Corp., Pittsburgh, will become the ``cornerstone'' of Mellon Financial's institutional fixed-income business, said Ronald O'Hanley, president of Mellon Institutional Asset Management. ``Standish brings a whole set of important investment products that we haven't had,'' he said.

Mr. O'Hanley cited Standish's strength in areas such as international fixed income and European corporate bonds. Boston-based Standish has $41 billion in assets under management, about 92% in fixed income. The firm, which will be called Standish Mellon Asset Management, has $30 billion in U.S. institutional tax-exempt assets. The acquisition increases Mellon's assets under management to $560...

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