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Bank Of New York Mellon Corp Acquires Remaining 50% Of WestLB Mellon Asset Management


Tuesday, 2 Oct 2012 03:15am EDT 

Bank Of New York Mellon Corp announced that it has purchased the remaining 50% of WestLB Mellon Asset Management joint venture from Portigon (formerly known as WestLB AG), the German portfolio management and service company. WestLB Mellon Asset Management was formed in early 2006 as a 50:50 joint venture between BNY Mellon and Portigon. Werner Taiber, who has recently been a member of the Managing Board of Portigon, will be the new Chief Executive Officer (CEO). Financial terms of the transaction were not disclosed. 

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