Mellon, Alcoa voted "most admired"

[PghUSA]

Fortune says Mellon, Alcoa are tops

Mellon Financial Corp. is No. 1 among U.S. financial institutions in Fortune Magazine's annual survey of most admired companies.

The Pittsburgh firm is also first in "quality of products and services," "employee talent" and "social responsibility," according to the magazine's 22nd annual survey.

Fortune compiles the list by taking the 10 largest companies (by revenues) in 65 industries, including large subsidiaries of foreign companies, and asks 10,000 executives, directors and securities analysts to rate the companies in their own industries based on eight criteria: innovation, financial soundness, employee talent, use of corporate assets, long-term investment, social responsibility, quality of management and quality of products/services.

"This important recognition from America's most prestigious survey of corporate reputations affirms that Mellon Financial Corporation's goal of becoming the best performing financial services company is well within reach," chairman and CEO Martin McGuinn said in a statement.

Fifth Third Bancorp was third and The PNC Financial Services Group Inc. ranked 10th among area firms.

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Meanwhile, Fortune named aluminum giant Alcoa Inc. the "most admired metals company," and ranked it first in eight attributes: innovation, use of assets, employee talent, management investment value, social responsibility, financial soundness, and products/services.