Eggers Named Chief Operating Officer of The Dreyfus Corporation
NEW YORK, April 11, 2006 — The Dreyfus Corporation today announced that Thomas F. Eggers, who rejoined Dreyfus as president a year ago, has been promoted to chief operating officer, effective immediately. Eggers, who will retain his title as president of Dreyfus, will continue to oversee all sales, direct and through intermediaries, strategic product management and development, as well as marketing. Additionally, Eggers will continue working closely with certain support services aligned with distribution.
"Tom has led Dreyfus' transformation to a customer-focused distribution company," said Stephen E. Canter, vice chairman of Mellon Financial Corporation and Dreyfus chairman and chief executive officer. "We are capitalizing on our strong brand recognition and reputation, utilizing Mellon Centers of Investment Excellence and sub-advisers to provide institutional quality investment processes to affluent investors and their advisors. Tom's continued outstanding leadership, combined with the power of the Dreyfus brand, will set Dreyfus apart in the marketplace to better serve our customers."
Pointing to Dreyfus' 2005 distribution success, Canter noted that Dreyfus was one of less than 20 mutual fund companies nationwide last year to achieve positive net flows in assets under management. Further, Dreyfus' Separate Account Management business exceeded $10 billion in assets under management in 2005 and is now among the top 15 separate accounts providers, having entered this business only five years ago.
Eggers originally joined Dreyfus in April 1996 as head of Dreyfus Investments, was appointed vice chairman of The Dreyfus Corporation in January 1999 and promoted to president in October 2001. Prior to joining Dreyfus, Eggers was managing director and principal of Mitchell Hutchins Asset Management, a subsidiary of PaineWebber, where he began his career. Eggers rejoined Dreyfus in April 2005 from Scudder Investments, where he served as president and chief executive officer since May 2002.
The Dreyfus Corporation, established in 1951 and headquartered in New York City, is one of the nation's leading asset management companies, currently managing more than $170 billion in mutual funds, separately managed accounts and institutional portfolios. Dreyfus Service Corporation, each fund's distributor, is a wholly-owned subsidiary of The Dreyfus Corporation.
The Dreyfus Corporation is a subsidiary of Mellon Financial Corporation, a global financial services company, and is part of the newly formed Mellon Asset Management. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and high net worth individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, payment solutions and investor services, and treasury services. Mellon has approximately $4.7 trillion in assets under management, administration or custody, including $781 billion under management. News and other information about Mellon is available at www.mellon.com
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