BNY-Mellon deal puts 2006 in record book.(The Bank of New York Company Inc., Mellon Financial Corp.)

Pensions & Investments, December, 2006 by Appell, Douglas

Byline: Douglas Appell and Mark Bruno Bank of New York Co.'s surprise move to purchase Mellon Financial Corp. in the largest money manager deal in history lifts the value of money management merger and acquisition deals announced this year to more than $36 billion, erasing the previous record of $30.9 billion set in 2000.

That value milestone had been one of the few marks still standing on Nov. 15, when New York-based investment bank Putnam Lovell NBF Securities released figures showing a record-breaking pace of money management M&A in 2006 in terms of number of overall deals, assets under management changing hands and deals involving alternative asset managers. Despite that record-setting clip, the value of deals through mid-November stood at $20.1...

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