Mellon Financial Corp
Stock Symbol: MEL
One Mellon Center
Mellon Financial Corp Industry:
Mellon Financial Corp Description:
Mellon Financial Corporation (NYSE: MEL) is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and affluent individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, human resources services and treasury services. Mellon has approximately $2.8 trillion in assets under management, administration or custody, including $588 billion under management. Its asset management companies include The Dreyfus Corporation and U.K.-based Newton Investment Management Limited.
Mellon Financial Corp Financial Summary:
For the nine months ended 30 September 2005, Mellon Financial Corporation's revenues increased 15% to $3.19B. Net income from continuing operations increased 16% to $704M. Revenues reflect an increase in investment management, institutional, trust & custodial fee income and higher equity investment income. Net income also reflect lower occupancy costs and increase in other interest revenue.
Mellon Financial Corp Business Summary:
Mellon Financial Corp. is a global financial services company. The Company's businesses are divided into two groups: Asset Management, and Corporate and Institutional Services. The Asset Management group is comprised of the Institutional Asset Management, Mutual Funds and Private Wealth Management sectors. The Corporate and Institutional Services group is comprised of the Asset Servicing, Human Resources and Investor Solutions, and Treasury Services sectors. The Company's banking subsidiaries include Mellon Trust of New England, National Association; Mellon United National Bank and Mellon 1st Business Bank, National Association, in addition to Mellon Bank. They engage in trust and custody activities, investment management services, banking services and various securities-related activities. During the year ended December 31, 2004, the Company had approximately $4 trillion in assets under management, administration or custody, including $707 billion under management.