Russell/Mellon drops CAPS from name
UK – Institutional information provider Russell/Mellon CAPS is to drop the CAPS – which originally stood for Combined Actuarial Performance Services - from its name as of April 26 and be known as Russell/Mellon.
The new name has already been adopted by the US-based part of the organisation, which was previously known as Russell/Mellon Analytical Services.
The name change will be accompanied by a new global brand, to be “rolled out” over the next few months. The CAPS name dates back to 1984, a spokesman said.
European chief executive Mick Brant said: “We are becoming increasingly successful in promoting our services outside our traditional markets – the UK and US – especially in mainland Europe.
“It makes sense to develop this area of business with a single global branding that we can build on going forward.”
“Our parent companies already have excellent name recognition in our client markets, so the strengths behind the new brand will be instantly recognisable” he continued.
He added: “While the CAPS name has served us well for many years, we recognise that, globally, it is time to use our parents’ names. This will allow us to capitalise on the hard work they have put in over the years.”
‘CAPS’ would be maintained for existing UK products, such as the CAPS Pooled Pension Fund Update and CAPS Pension Fund Analysis, Brant explained.