Mellon Financial has joined two of its U.S. fundamental equity investment management units at Dreyfus and The Boston Company Asset Management (TBCAM), according to a release.

As a result of the change, TBCAM will manage an additional $5 billion in Dreyfus mutual fund assets, from $10 billion to $15 billion. Dreyfus currently has more than $170 billion in fund assets. In total, TBCAM manages $55 billion in SMA, institutional and subadvised fund assets.

"Combining the fundamental equity operations of these world-class organizations will create a formidable asset manager with strengthened investment capabilities," said Martin G. McGuinn, Mellon chairman and chief executive officer.

Dreyfus and TBCAM will continue to work out of offices in New York and Boston, respectively, said Mellon spokesman Mike Dunn. 

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