Mellon to consolidate in new European HQ

UK/EUROPE – Pittsburgh based Mellon Financial is planning to open a new European headquarters in London by the end of 2003.

The new building will house Mellon Global Investments, its recently launched non-US asset management business, which includes Newton Investment Management, Mellon Bank’s London branch, Mellon Trust, ABN-AMRO Mellon Global Securities Services and Buck Consultants.

“ By consolidating our various businesses, which currently occupy six locations in London, into one location we will be better positioned to achieve the growth objectives of Mellon Europe,” says Jon Groom, regional head of Mellon Europe and president of Mellon Global Investments.

He adds: “Our European expansion, particularly in the areas of asset serving, asset management and private wealth management is a key component of our global growth strategy. Bringing the wealth of investment solutions our businesses can offer under one roof will help us in providing an integrated service to meet our clients needs.”

The company is planning to move all of its 1200 London staff to the new office, with capacity for an extra 300 workers. Mellon has around 2000 staff in total in the UK.

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