The acquisition of Walter Scott & Partners Limited, which has approximately $29 billion under management, takes the total value of Mellon’s portfolio of assets under management to approximately $900 billion.
This acquisition significantly increases our assets under management, and – more importantly – enhances our breadth of investment strategies and clients reached worldwide, said Ronald O’Hanley, Mellon vice chairman and president of Mellon Asset Management.
Walter Scott & Partners Limited will remain an independent subsidiary within Mellon’s multi-boutique asset management model. It also will retain its name and location, and day-to-day management will reside with the current team.
There will be no change to the firm’s investment philosophy, which is to seek strong, long-term performance by focusing its internal research on successful growth companies globally.
