Press Releases
Jacklin to Become CEO of Mellon Capital Management; Loeb Will Continue as Chairman
SAN FRANCISCO, December 6, 2005 — Mellon Financial Corporation today announced that, effective January 1, 2006, Charles J. Jacklin will assume the role of chief executive officer of its Mellon Capital Management subsidiary. He will also continue in his role as president. Jacklin will succeed Thomas F. Loeb, who will continue as chairman of Mellon Capital. William F. Fouse remains chairman emeritus of the firm.
Jacklin will assume full responsibility for the day-to-day business at Mellon Capital regarding clients, products, and operations. Loeb will focus primarily on working with global clients and prospects to develop strategic solutions that contribute to Mellon Capital's growth.
"This action is the result of a thoughtful succession management process that we have worked on collectively," said Ronald P. O'Hanley, Mellon vice chairman and president of Mellon Institutional Asset Management. "Tom has done a remarkable job furthering Mellon Capital's growth and worldwide reputation for consistent, risk-controlled investment performance."
"This change will not alter Mellon Capital's strategic direction," Jacklin said. "Tom and I have worked side by side in setting Mellon Capital's vision, and we will continue to work together to successfully implement that vision."
"Under Charlie's leadership, Mellon Capital is well positioned to build on its record of innovation in developing investment strategies that generate alpha for our clients in changing market environments," said Loeb.
Mellon Capital is a San Francisco-based investment manager specializing in global quantitative investment strategies for institutional investors. Founded in 1983 by William Fouse and Tom Loeb, with backing by Mellon, the firm today has $134.9 billion in assets under management, including assets managed in absolute return strategies ($13.5 billion), assets managed in overlay strategies ($15.1 billion) and the non-discretionary management of securities lending pools ($7.3 billion) on September 30, 2005. More information about Mellon Capital is available at www.mcm.com.
Mellon Institutional Asset Management (MIAM) is the umbrella organization comprising Mellon's 11 investment management subsidiaries worldwide. These firms are among the most advanced and highly regarded names in institutional money management, offering a broad range of investment products and services across virtually every investment style, strategy and asset class. Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations, and high net worth individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, payment solutions and investor services, and treasury services. Mellon has approximately $4.5 trillion in assets under management, administration or custody, including