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Dreyfus is an American investment management company that deals with investment products and strategies. It was established in 1951 and is currently headquartered in New York City.
 | |
| Company type | Subsidiary |
|---|---|
| Founded | 1951; New York, NY |
| Headquarters | MetLife Building, 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 Investments |
Dreyfus currently is a subsidiary of BNY Investments.
History
editThe 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 BNY, one of the world's largest global asset management and securities services companies.[5] The reach of Dreyfus' distribution capabilities now extends to the resources of BNY and its exclusive network of institutional asset managers.[2][3]
Current operations
editAs a BNY 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.
References
edit- ^ "Hoey Biography". Dreyfus. Archived from the original on 2016-03-03. Retrieved 2010-07-26.
- ^ a b c d e f "Welcome to Dreyfus". BNY Mellon. Archived from the original on 23 February 2017. Retrieved 3 April 2018.
- ^ a b c d e f "Company Profile". FundingUniverse. Retrieved 2010-07-26.
- ^ Dash, Eric (5 December 2006). "Bank of New York and Mellon Will Merge". The New York Times. Retrieved 3 April 2018.
- ^ "Press Release issued jointly by the Bank of New York and Mellon Financial". www.sec.gov. Retrieved 2024-05-16.