Mellon Financial Corp. announced today that it would create a new asset management subsidiary dedicated to actively managed growth equity investing for institutional clients. The new subsidiary, Mellon Growth Advisors, will be the tenth unit within Mellon Institutional Asset Management. Mellon Financial is also the parent company of the Dreyfus family of mutual funds.

Francis Antin, CEO of The Boston Company Asset Management, another Mellon subsidiary, will become CEO of Mellon Financial Advisors. Robert Potvin, currently managing director of Boston Safe Advisors and VP of The Boston Company, will become head of sales, marketing and client services for the new unit.

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