August 08, 2011

BNY Mellon's Pershing to Open Channel Islands Office


LONDON (UK), 8 August 2011 — Pershing Limited, a BNY Mellon company, announced today that it will launch a subsidiary company in the Channel Islands and open an office in St. Helier, Jersey. Pershing’s entry into the Channel Islands is in response to its clients’ demands for access to both onshore and offshore investment opportunities through the same financial services solutions provider. Pershing’s new initiative will deliver a full breadth of services from order execution, including direct market access and support of the full transaction lifecycle, to asset custody in a unique service model.

Pershing, a supplier of front-to-back outsourcing services and solutions to private banks, private wealth managers and brokers, serves clients from offices in the UK and Ireland. The addition of the Jersey office will provide clients with an integrated offshore solution across all of the asset classes used by private wealth firms.

"Opening a Channel Islands office represents an important part of our strategic plan to provide private wealth managers and private banks with a competitive onshore and offshore capability in Europe," said Charles van der Merwe, chief executive officer at Pershing Limited. "We chose Jersey as the best place for our Channel Islands solution because of its reputation as a well-regulated offshore jurisdiction. Jersey’s position as a leading offshore centre will provide Pershing clients with a strong solution that will enable future growth of their businesses."

Pending regulatory approvals, Pershing expects to open its Channel Islands office in St. Helier later this year.

Pershing Limited provides broker-dealers, asset managers, intermediary firms, IFAs, and financial institutions across Europe with a comprehensive range of products, services, and solutions including retail clearing, fully disclosed institutional global clearing, broker services, and trading services. Established in London in 1987, Pershing Limited and its subsidiary, Pershing Securities Limited, are members of the London Stock Exchange and Euroclear UK & Ireland. Pershing Limited has memberships with LCH.Clearnet EquityClear and SIX SIS AG. Pershing Securities Limited is a member of Deutsche Börse, Eurex Clearing, and Clearstream. Pershing Limited is an affiliate of Pershing LLC, a leading global provider of financial business solutions to more than 1,500 institutional and retail financial organisations and independent investment advisers who collectively represent over five million active investors. Pershing LLC (member FINRA/NYSE/SIPC) is a member of every major U.S. securities exchange, and a subsidiary of The Bank of New York Mellon Corporation. Additional information is available at www.pershing.co.uk.

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.0 trillion in assets under custody and administration and $1.17 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.