The Dreyfus Corporation of New York announced yesterday the establishment of a new business unit that will design and develop the firm's website content and functions. Dreyfus named Sean Foley director of the new unit.

Foley formerly worked for New York Life in New York where he was most recently vice president of electronic commerce for New York Life Investment Management, the company’s asset management division. Dreyfus’ six-employee electronic business unit will first work on consolidating Dreyfus separate websites for retail investors, wholesalers and financial intermediaries, said Foley. The firm is currently evaluating redundancies between the sites and will determine what features and services will be included on the new website, he said. Dreyfus wants to build a site that will better target specific needs of different individuals and markets, thereby creating a site that is customized to those individuals needs, Foley said. While Dreyfus has traditionally developed its online business strategy using input from various departments, the new unit is designed to consolidate those efforts, Foley said. Dreyfus is a wholly-owned subsidiary of Mellon Bank of Pittsburgh.

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