UBS Global Asset Management Americas Inc – ‘SC 13G/A’ on 2/12/08 re: Mellon Financial Corp

On:  Tuesday, 2/12/08, at 4:59pm ET   ·   Accession #:  861177-8-52   ·   File #:  5-13867

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Amendment to Statement of Beneficial Ownership   —   Schedule 13G
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13G/A    Amendment to Statement of Beneficial Ownership         5     23K 

Document Table of Contents

SC 13G/A
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION                                
Washington, D.C.  20549                                                         

SCHEDULE 13G                                                                    

Under the Securities Exchange Act of 1934                                       

(Amendment No. 2)                                                               

MELLON FINANCIAL CORP.                                                          
(Name of Issuer)                                                                
-----------------------------------------------------------                     
Common Stock                                                                    
(Title of Class of Securities)                                                  
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64058100                                                                        
(CUSIP Number)                                                                  
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December 31, 2007                                                               
Date of Event Which Requires Filing of this Statement)                          
-----------------------------------------------------------                     
Check the appropriate box to designate the rule pursuant to                     
which this Schedule is filed:                                                   

/x/ Rule 13d-1(b)                                                               
/ / Rule 13d-1(c)                                                               
/ / Rule 13d-1(d)                                                               

* The remainder of this cover page shall be filled out for a                    
reporting person's initial filing on this form with respect                     
to the subject class of securities, and for any subsequent                      
amendment containing information which would alter the                          
disclosures provided in a prior cover page.                                     

The information required in the remainder of this cover page shall not          
be deemed to be "filed" for the purpose of Section 18 of the Securities         
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of         
that section of the Act but shall be subject to all other provisions of         
the Act (however, see the Notes).                                               

Potential persons who are to respond to the collection of                       
information contained in this form are not required to                          
respond unless the form displays a currently valid OMB                          
control number.                                                                 

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SC 13G/A
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1. Names of Reporting Persons and I.R.S. Identification No.                     

UBS AG (for the benefit and on behalf of the UBS Global Asset                   
Management business group of UBS AG (see Item 7)                                

-----------------------------------------------------------                     
2. Check the Appropriate Box if a Member of a Group                             

a   / /                                                                         
b   / /  See Item 8 of attached schedule                                        
-----------------------------------------------------------                     
3. SEC USE ONLY                                                                 

-----------------------------------------------------------                     
4. Citizenship or Place of Organization                                         

Switzerland                                                                     
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Number of       5.  Sole Voting Power              28,456,688                   
Shares Bene-    6.  Shared Voting Power                 0                       
ficially        7.  Sole Dispositive Power              0                       
Owned by Each   8.  Shared Dispositive Power       32,311,507                   

Reporting                                                                       
Person With:                                                                    
-----------------------------------------------------------                     
9. Aggregate Amount Beneficially Owned by Each Reporting                        
Person:                                                                         

32,311,507 shares*                                                              
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10. Check if the Aggregate Amount in Row 9 Excludes Certain                     
Shares  / /                                                                     
-----------------------------------------------------------                     
11. Percent of Class Represented by Amount in Row 9                             
2.8%                                                                            
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12. Type of Reporting Person                                                    

BK, HC                                                                          
-----------------------------------------------------------                     

UBS AG disclaims beneficial ownership of such securities                        
pursuant to Rule 13d-4 under the Securities Exchange Act                        
of 1934.  In accordance with SEC Release No. 34-39538                           
(January 12, 1998), this filing reflects the securities                         
beneficially owned by the UBS Global Asset Management                           
business group of UBS AG and its subsidiaries and                               
affiliates on behalf of its clients.  This filing does                          
not reflect securities, if any, beneficially owned by                           
any other division or business group of UBS AG.                                 

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Cusip 64058100                                                                  

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Item 1(a).  Name of Issuer:                                                     

MELLON FINANCIAL CORP.                                                          

Item 1(b).  Address of Issuer's Principal Executive Offices:                    

One Mellon Bank Center                                                          
500 Grant Street                                                                
Pittsburgh, PA  15258-0001                                                      

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Item 2(a) Name of Persons Filing:                                               
UBS AG                                                                          

Item 2(b) Address of Principal Business Office or, if none,                     
Residence:                                                                      

UBS AG's principal business office is:                                          
Bahnhofstrasse 45                                                               
PO Box CH-8021                                                                  
Zurich, Switzerland                                                             

Item 2(c) Citizenship:                                                          
Incorporated by reference to Item 4 of the cover pages.                         

Item 2(d) Title of Class of Securities:                                         
Common Stock (the "Common Stock")                                               

Item 2(e) CUSIP Number:                                                         
64058100                                                                        

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Item 3.  Type of Person Filing:                                                 

UBS AG is classified as a Bank as defined in section 3(a)(6)                    
of the Act pursuant to no action relief granted by the staff                    
of the Securities and Exchange Commission.                                      
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Item 4 (a)-(c)(iv).  Ownership:                                                 
Incorporated by reference to Items 5-11 of the cover pages.                     

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Cusip 64058100                                                                  

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Item 5.  Ownership of Five Percent or Less of a Class:                          

If this statement is being filed to report the fact that as                     
of the date hereof the reporting person has ceased to be the                    
beneficial owner of more than five percent of the class of                      
securities, check the following /X/.                                            
-----------------------------------------------------------                     
Item 6.  Ownership of More than Five Percent on Behalf of                       
Another Person:                                                                 

Accounts managed on a discretionary basis by the UBS Global                     
Asset Management business group of UBS AG (UBS Global AM)                       
have the right to receive or the power to direct the receipt                    
of dividends from, or the proceeds from the sale of, the                        
Common Stock.  To the best of our knowledge, no account                         
holds more than 5 percent of the outstanding Common Stock.                      
-----------------------------------------------------------                     

Item 7.  Identification and Classification of the Subsidiary                    
Which Acquired the Security Being Reported on By the Parent                     
Holding Company:                                                                

Identification:  UBS Global Asset Management (Americas) Inc.                    
Classification:  IA                                                             

In addition to UBS AG, the following UBS Global AM                              
affiliates and subsidiaries are part of the UBS Global                          
Asset Management business group included in this filing:                        
UBS Global Asset Management (Americas) Inc., UBS Global                         
Asset Management Trust Company, UBS Global Asset                                
Management (Canada) Co., UBS Global Asset Management                            
(Australia) Ltd., UBS Global Asset Management                                   
(Hong Kong) Limited, UBS (Trust & Banking) Limited, UBS                         
Global Asset Management (Japan) Ltd., UBS Global Asset                          
Management (Singapore) Ltd., UBS Global Asset                                   
Management (Taiwan) Ltd., UBS Global Asset Management                           
(France) SA, UBS Global Asset Management (Deutschland) GmbH,                    
UBS Global Asset Management (Italia) SIM SpA,                                   
UBS Espana S.A., UBS Global Asset management (UK) Ltd.                          
and UBS Global Asset Management Life Limited.                                   

----------------------------------------------------------                      
Item 8 Identification and Classification of Members of the                      
Group:                                                                          

UBS Global AM is composed of wholly-owned subsidiaries                          
and branches of UBS AG.  UBS AG is reporting direct and                         
indirect beneficial ownership of holdings.  None of the                         
reporting persons affirm the existence of a group within                        
the meaning of Rule 13d-5(b)(1).                                                
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Cusip 64058100                                                                  

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Item 9 Notice of Dissolution of Group:                                          
Not Applicable                                                                  
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Item 10 Certification:                                                          
By signing below I certify that, to the best of my knowledge                    
and belief, the securities referred to above were acquired                      
and are held in the ordinary course of business and were not                    
acquired and are not held for the purpose of or with the                        
effect of changing or influencing the control of the issuer                     
of the securities and were not acquired and are not held in                     
connection with or as a participant in any transaction having                   
that purpose or effect.                                                         

SIGNATURE                                                                       

After reasonable inquiry and to the best of my knowledge and                    
belief, I certify that the information set forth in this                        
statement is true, complete and correct.                                        

Date:  February 14, 2008                                                        

UBS AG              

   By:   /s/ Thomas Madsen
     Thomas Madsen, Member GMB

   By:   /s/ Kai R. Sotorp
     Kai R. Sotorp, Member GMB

Page 5 of 5 pages                                                               

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘SC 13G/A’ Filing		Date		First		Last			Other Filings
		2/14/08		5					13F-HR
Filed on:		2/12/08							SC 13G/A
		12/31/07		1					13F-HR
		1/12/98		2					SC 13G/A
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