Mellon Bank's 150-Position Ambitions Are Reigned In By Budget Constraints
MANAGEMENT AND STRATEGY
Cost considerations are cramping Mellon Bank's ability to give the nod to a digital data distribution system vendor for a planned 150-position trading room in Pittsburgh. While bank systems executives continue to evaluate their trading technology options, a reevaluation of systems expenses have the project in what one bank official calls "a holding pattern."
According to this official, the trading operation's expenses have come under scrutiny as part of a wider budgetary analysis. "Like many
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