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. Dreyfus currently is a subsidiary of BNY Investments.

History

The firm's origin dates back to 1947, when investor Jack Dreyfus founded a brokerage house in New York City named Dreyfus & Co. 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. Going public in 1965, Dreyfus was among the first money management firms to tap into the stock market for additional capital. In 1976, Dreyfus was among the first fund companies to introduce an incorporated tax-exempt

municipal bond A municipal bond, commonly known as a muni, is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often ...

fund. In 1994, Dreyfus completed its landmark merger with Mellon Bank Corporation, and became a wholly owned subsidiary of

Mellon Financial Corporation Mellon Financial Corporation was an American investment firm which was once one of the world's largest money management firms. Based in Pittsburgh, Pennsylvania, it was in the business of institutional and high-net-worth individual asset managem ...

. 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. On July 1, 2007, The Bank of New York Company, Inc. and

merged to form a new company BNY, one of the world's largest global asset management and

securities services A custodian bank, or simply custodian, is a specialized financial institution responsible for providing securities services. It provides post-trade services and solutions for asset owners (e.g. sovereign wealth funds, central banks, insurance comp ...

companies. The reach of Dreyfus' distribution capabilities now extends to the resources of BNY and its exclusive network of institutional asset managers.

Current operations

As a BNY company, Dreyfus provides access to its global network of asset managers, delivering investment insight and products — equity,

fixed income Fixed income refers to any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule. For example, the borrower may have to pay interest at a fixed rate once a year and repay the pr ...

, global/international and money market mutual funds, separately managed accounts, retirement and

cash management Cash management refers to a broad area of finance involving the collection, handling, and usage of cash. It involves assessing market liquidity, cash flow, and investments. In banking, cash management, or treasury management, is a marketing term ...

strategies,

asset allocation Asset allocation is the implementation of an investment strategy that attempts to balance risk versus reward by adjusting the percentage of each asset in an investment portfolio according to the investor's risk tolerance, goals and investm ...

solutions and brokerage services. Dreyfus products are delivered through a variety of distribution channels:

intermediary An intermediary, also known as a middleman or go-between, is defined differently by context. In law or diplomacy, an intermediary is a third-party beneficiary, third party who offers intermediation services between two parties. In trade or barte ...

(advisor-sold),

institutional An institution is a humanly devised structure of rules and norms that shape and constrain social behavior. All definitions of institutions generally entail that there is a level of persistence and continuity. Laws, rules, social conventions and ...

, and retail direct.

References

{{Authority control Investment management companies of the United States Asset management companies