Mellon's Boston unit wins UT business

United Technologies Corp. has selected a Boston unit of Mellon Financial Corp. to provide trust and custody services for its $16.3 billion pension plan.

Mellon, of Pittsburgh, said today that its Boston asset servicing group had won Hartford-based United Technologies' business. UT provides products and services to the aerospace and building industries.

Mellon's asset-servicing group provides services and tools to support the entire investment process for investment managers, public and private pension funds, endowments, and other financial institutions.

"Our dedication to incorporating advanced technology into our platform has been a big reason for our ability to deliver leading-edge services and innovative products," Mellon vice chairman James P. Palermo said.
(By Chris Reidy, Globe staff)