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Mellon Acquires US Wealth Management Business
Mellon’s private wealth management unit has acquired US Trust’s planned giving services group from the New York-based wealth manager. Terms ...
Mellon’s private wealth management unit has acquired US Trust’s planned giving services group from the New York-based wealth manager. Terms of the transaction were not disclosed.
The acquisition of US Trust's planned giving services group adds more than $700 million in planned giving (charitable) client assets to Mellon, making the US bank the nation's largest planned giving services provider.
Linda FitzPatrick, managing director for Mellon's charitable gift services group, will manage the expanded group. Mellon will assume US Trust's existing planned giving office locations in Greensboro, North Carolina and Portland, Oregon.
The deal represents the fifth acquisition for Mellon’s private wealth management group in two years, according to a statement from the bank.
