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The firm will merge three existing funds businesses and has named a new CEO and investment chiefs to lead the unit

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BNY Mellon's funds arm has outlined plans to merge three of its investment management businesses to create a $560bn multi-asset specialist.

Mellon Capital Management, Standish Mellon Asset Management and The Boston Company Asset Management will be combined to offer active and passive multi-asset investment strategies, BNY Mellon Investment Management said.

BNY Mellon to create new $560bn multi-asset fund manager

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Pedro Guazo, who joins in August, will also oversee the $1.3tn asset manager’s responsible investment platform globally

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