Mellon Bank Buys Dreyfus; Merger Will Impact Technology
AT PRESS TIME
The purchase early this week of Dreyfus Corp. by Mellon Bank of Pittsburgh sets the stage for some significant technological changes for Dreyfus.
According to sources, Mellon has invested heavily over the past two years in upgrading its technology--both in the trading room (Trading Systems Technology, April 5) and in the back office. Dreyfus, on the other hand, has by most accounts fallen behind both in terms of the products it manages and the cost-efficiency of the technologies it uses to manage
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