World Library  
Flag as Inappropriate
Email this Article

Dreyfus Corporation

Article Id: WHEBN0002562652
Reproduction Date:

Title: Dreyfus Corporation  
Author: World Heritage Encyclopedia
Language: English
Subject: Mellon Financial, Jack Dreyfus, Sarris Candies, Pittsburgh, Allegheny Energy
Collection: Mutual Fund Families
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Dreyfus Corporation

The Dreyfus Corporation
Subsidiary
Founded 1951; New York, NY
Headquarters New York, NY, USA
Key people
J. Charles Cardona, Jr. (President),
Richard Hoey (Chief Economist)[1]
Products Mutual Funds, Separate Accounts, Annuities, Individual Retirement Accounts and Brokerage Services
Parent BNY Mellon
Website www.dreyfus.com/

Dreyfus, established in 1951 and headquartered in New York City, is an American investment manager of investment products and strategies. The company merged with Mellon Financial in 1994, and then became a subsidiary of Bank of New York Mellon when Mellon Financial and The Bank of New York merged in 2007.

As a BNY Mellon company, Dreyfus provides access to its global network of asset managers, delivering investment insight and products — equity, fixed income, global/international and money market mutual funds, separately managed accounts, retirement and cash management strategies, asset allocation solutions and brokerage services. Dreyfus products are delivered through a variety of distribution channels: intermediary (advisor-sold), institutional, and retail direct.

History

The firm's origin dates back to 1947, when investor Jack Dreyfus founded a brokerage house in New York City named Dreyfus & Co.[2][3]

In 1951, attracted by the concept of mutual funds, Dreyfus & Co. purchased a small management company named John G. Nesbett & Co., Inc. with a small common stock fund called The Nesbett Fund Incorporated. Nesbett & Co. was renamed The Dreyfus Corporation, and The Nesbett Fund became The Dreyfus Fund Incorporated.[2][3]

Going public in 1965, Dreyfus was among the first money management firms to tap into the stock market for additional capital.[2][3]

In 1976, Dreyfus was among the first fund companies to introduce an incorporated tax-exempt municipal bond fund.[2][3]

In 1994, Dreyfus completed its landmark merger with Mellon Bank Corporation, and became a wholly owned subsidiary of Mellon Financial Corporation. The merger, a milestone in the history of financial services in the United States, was at the time the largest-ever combination of a bank and mutual fund company.[4][2][3]

On July 1, 2007, The Bank of New York Company, Inc. and Mellon Financial Corporation merged to form a new company The Bank of New York Mellon, one of the world's largest global asset management and serving company. The reach of Dreyfus' distribution capabilities now extends to the resources of BNY Mellon and its exclusive network of institutional asset managers.[2][3]

References

  1. ^ "Hoey Biography". Dreyfus. Retrieved 2010-07-26. 
  2. ^ a b c d e f https://public.dreyfus.com/about-dreyfus/history.html
  3. ^ a b c d e f "Company Profile". FundingUniverse. Retrieved 2010-07-26. 
  4. ^ http://www.nytimes.com/2006/12/05/business/05bank.html?pagewanted=all

External links

  • Official website
  • BNY Mellon
  • BNY Mellon Investment Management
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 


Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.