Mellon Financial Corp. will acquire Weber Fulton & Felman, an investment management firm based in Cleveland that specializes in the high-net-worth, not-for-profit and retirement markets. The firm has approximately $800 million in assets under management and administration.

This is the third acquisition that Mellon’s Private Wealth Management group has made since late 2000. The Pittsburgh-based company acquired the Trust Company of Washington in November of 2000 and Van Deventer & Hoch in September 2001.

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