Statement from Dreyfus on the Death of Howard Stein
New York, July 27, 2011 – The Dreyfus Corporation today released the following statement regarding the death of Howard Stein, former Chairman and CEO of Dreyfus.
“We are deeply saddened by the passing of Howard Stein, former Chairman and CEO of The Dreyfus Corporation,” said Jon Baum, current chairman and CEO of Dreyfus. “One of the pioneers of the mutual fund industry , Howard was a visionary who brought Wall Street to Main Street. Part of Howard’s genius is captured still as people remember his remarkable advertising with the lion coming out of the subway. Howard’s innovation and philanthropic heart are an inspiration for us all. “
In the 1950’s, the Dreyfus lion became the symbol of The Dreyfus Corporation. Breaking from traditional mutual fund advertising, the lion made his debut on television emerging from a subway station and striding down Wall Street. The Dreyfus lion continues to be one of the most highly recognized icons on Wall Street. In 1965, Dreyfus became a public company, one of the first money management firms to tap the stock market for capital. Howard Stein was elected President and a Director; in 1970, he became Chairman of the Board and Chief Executive Officer, positions he held until the end of 1994 when Dreyfus merged with the then Mellon Bank Corporation, creating the largest combination of a banking firm and a mutual fund company in the history of the financial services industry. Mellon merged with The Bank of New York in 2007 creating BNY Mellon, one of the world’s largest global financial services companies.
Notes to editors
The Dreyfus Corporation, established in 1951 and headquartered in New York City, is one of the nation's leading asset management and distribution companies, currently managing more than $400 billion in mutual funds and separately managed accounts.
BNY Mellon Asset Management is one of the world’s leading asset management franchises, encompassing BNY Mellon’s affiliated investment management firms and global distribution companies. Information about BNY Mellon Asset Management can be found at www.bnymellonam.com.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.3 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com and through Twitter @bnymellon.