Mellon Financial Corp. of Pittsburgh has announced that it will acquire Standish, Ayer & Wood, a predominantly fixed-income investment manager based in Boston in an all cash deal. Terms of the deal were not disclosed.

The acquisition, which is expected to close in the third quarter, includes a payment at closing in addition to a contingent payment dependent upon Standish's future performance. The firm will remain in Boston but will change its name to Standish Mellon Asset Management, Mellon said.

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