Mellon Financial Corporation is expanding its asset management business by developing Mellon Global Investments, an umbrella organisation for all its non-US asset management businesses, including the recently opened Milan office and other planned offices in Europe.

“International investors are becoming increasingly sophisticated and are looking for global diversification and a broader range of investment choice. Mellon has recognised the opportunities this presents and Mellon Global Investment will bring the broad range of Mellon products to an international audience. Building on the platform Mellon Newton has already established we will put in place a sales force across Europe and in our major markets,” says Jon Little, senior vice-president and head of global sales at Mellon Global Investment.

Mellon Global Investments is the global distributor of the investment products of its asset management subsidiaries including Newton Investment Management, The Boston Company Asset Management, Certus, The Dreyfus Corporation, Franklin Portfolio Associates, Mellon Bond, Mellon Capital Management, Mellon Equity, Pareto and Prime Advisors.

The international sales team will consist of former Newton sales personnel and new recruits from Italy and Germany. The new company’s headquarters will be in London, with additional offices in Buenos Aires, Hong Kong and Jersey and Mellon says it plans to open up in other markets.