Mellon Financial Corporation was 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 management, including the Dreyfus family of mutual funds; business banking; and shareholder and investor services. On December 4, 2006 it announced a merger agreement with Bank of New York, to form The Bank of New York Mellon. After regulatory and shareholder approval, the banks completed the merger on July 2, 2007.