Tom Higgins, Rebecca Braeu Join BNY Mellon Asset Management Boutique

BOSTON and LONDON, October 21, 2010 — Standish Mellon Asset Management Company LLC, the award-winning fixed income specialist for BNY Mellon Asset Management, today announced that Tom Higgins has joined the firm as global macro strategist and Rebecca Braeu has joined as macroeconomic analyst and portfolio manager for Standish's global fixed income team.

"The addition of Tom Higgins and Rebecca Braeu add further strength to our global macroeconomic research platform and provide additional depth for our investment team at a time of rapid growth," said Desmond Mac Intyre, president and chief executive officer of Standish.  Mac Intyre noted that assets under management have increased 27 percent over the 12 months ending September 30, 2010, due to new business and asset growth.

"Our global fixed income strategies continue to attract assets as investors' demonstrate an increasing appetite for attractive investments around the world," Mac Intyre said.  "In particular, there has been a significant increase in interest in emerging market local currency debt.  Also, U.S.-based institutions are increasing their allocations to liability driven investment (LDI) strategies, and we're seeing a growing number of non-U.S. institutions investing in high yield and high income securities issued in the U.S."

Higgins, who reports to Standish Chief Investment Officer David Leduc, will help Standish's fixed income investment teams take advantage of macroeconomic trends.  He has more than 19 years of investment management experience and joins the firm from Payden & Rygel, where he served as chief economist, responsible for developing the firm's view on the global economy and leading a team of economists.  Prior to Payden & Rygel, he was managing director at Geoffrey Bell & Company and international economist at The Conference Board.  He received his Ph.D and master's degrees from Fordham University.

As a member of the global team, Braeu will identify and monitor macroeconomic themes in global markets and how they affect Standish's investment strategies.   She has more than 12 years of investment management experience and most recently served as economist and emerging market strategist at MFC Global Investment Management.  Before that, she was an assistant professor of economics at California State University.  Braeu received her Ph.D and master's degrees from the University of Colorado.

Standish Mellon Asset Management Company LLC, with $79 billion of assets under management, provides investment management services across a broad spectrum of fixed income asset classes. These include corporate credit (investment-grade and high-yield), emerging markets debt (dollar-denominated and local currency), core / core plus and opportunistic (U.S. and global) strategies. Standish also offers full service capabilities in Insurance and Global Workout Solutions. The firm also includes assets managed by Standish personnel acting as dual officers of The Dreyfus Corporation and The Bank of New York Mellon.

BNY Mellon Asset Management is the umbrella organization for BNY Mellon's affiliated investment management firms and global distribution companies.

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets.  BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team.  It has $24.4 trillion in assets under custody and administration and $1.14 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day.  BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).  Additional information is available at www.bnymellon.com.

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