The Bank of New York Mellon Completes Acquisition of ARX Capital Management

Becomes one of the leading asset managers in growing Brazilian market

LONDON, NEW YORK and RIO DE JANEIRO, Jan. 22 /PRNewswire-FirstCall/ -- The
Bank of New York Mellon Corporation has completed the acquisition of ARX
Capital Management, a leading independent asset management business
headquartered in Rio de Janeiro, Brazil. ARX Capital Management specialises in
Brazilian multi-strategy, long/short and long only investment strategies and
has more than US$2.8bn in assets under management.
(Logo: http://www.newscom.com/cgi-bin/prnh/20071001/NYM012LOGO )
Terms of the transaction, which was first announced on 13 November 2007,
were not disclosed. ARX Capital Management will be integrated with BNY Mellon
Asset Management Brasil with the combined business becoming one of the leading
asset managers in the country.
Jonathan Little, vice-chairman of BNY Mellon Asset Management, said: "The
acquisition of ARX Capital Management significantly enhances our capabilities
in the region and will add a strong product offering to help drive the
development of our business internationally. Moreover, it fits with our
strategic objective of growing our footprint in developing markets. The
business is continuing to exceed our expectations with close to 100% client
retention during the period since we announced the acquisition. "
Zeca Oliveira, country head of BNY Mellon Brasil, added: "Our integrated
business will complement our focus in the institutional marketplace with the
addition of high net worth individuals and family office, accelerating our
success in expanding the depth and breadth of our client base, and increasing
our focus on attracting and retaining talent."
Founded in 2001, ARX Capital Management has capitalised on the significant
growth in the region by building a strong local investor base. The company
manages 20 equity and hedge funds, in domestic and offshore versions. BNY
Mellon DTVM Brasil is the administrator for the majority of the funds. Jose
Alberto Tovar, CEO of ARX Capital Management, will become the head of the
integrated asset management business in Brazil, reporting to Zeca Oliveira.
Jose Alberto Tovar said: "We are already seeing new business as a result
of the acquisition which is testament to our teams working successfully during
integration. This combination enhances our product and service offering and we
are excited about our future growth prospects."
The Bank of New York Mellon Corporation is a global financial services
company focused on helping clients manage and service their financial assets,
operating in 34 countries and serving more than 100 markets. The company is a
leading provider of financial services for institutions, corporations and
high-net-worth individuals, providing superior asset management and wealth
management, asset servicing, issuer services, clearing services and treasury
services through a worldwide client-focused team. It has more than $20
trillion in assets under custody and administration, more than $1.1 trillion
in assets under management and services $11 trillion in outstanding debt.
Additional information is available at bnymellon.com.
All information source BNY Mellon Asset Management International Limited as at
31 December 2007 unless otherwise stated. This press release is issued by BNY
Mellon Asset Management International Limited to members of the financial
press and media and the information contained herein should not be construed
as investment advice. Past Performance is not a guide to future performance.
Registered office: The Bank of New York Mellon Centre, 160 Queen Victoria
Street, London, EC4V 4LA.
Registered in England no. 1118580. Authorised and regulated by the Financial
Services Authority
A Bank of New York Mellon Company(SM)
SOURCE The Bank of New York Mellon Corporation

Jamie Brookes, +44 20 7163 2146, jamie.brookes@bnymellon.com, or Ron Gruendl,
+1-412-234-7157, ron.gruendl@bnymellon.com