Mellon Financial Corp. of Pittsburgh has joined a growing list of U.S. companies that manage mutual funds looking to expand into Italy. Mellon's global distribution unit, Mellon Global Investments Ltd., signed a deal late last month with Italy's BNL Investments to distribute the 18 Mellon Global funds. It was the second deal in three days for BNL, which had just signed a deal to sell 13 of Janus International Holding LLC's funds.

Jon Little, chief executive officer of Mellon Global Investments, said Italy is an important market for Mellon but is only a small part of his company's plan to grow in Europe.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.