No Word Yet on Bank Mergers' Impact on Money Market Fund Space. Yesterday's announcement that The Bank of New York and Mellon Financial Corporation have completed their merger means it may not be long before the $100 billion Dreyfus and $15 billion BNY Hamilton money fund families are integrated. The logical move would be for the Hamilton funds to merge into Dreyfus, but it's unclear what will happen with the online money market trading portals, BNY MoneyFundsDirect and Mellon LMS. The money fund, and especially the fund custodial and securities lending landscapes, will also be altered by the completion of the `State Street and Investors Financial Services (IBT) merger. While it's also unclear whether IBT's Merrimac funds will be merged into SSgA funds, Merrimac's money market fund employees have already been given pink slips. Finally, Bank of America's acquisition of U.S. Trust from Schwab includes the $4+ billion Excelsior money fund family. Schwab ran Excelsior separately, but it remains to be seen what BoA's Columbia Funds will do.

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