JERSEY CITY, N.J., Nov. 18, 2014 /PRNewswire/ -- Pershing LLC, a BNY Mellon company, today announced that its prime brokerage business unit has been named 'Best Prime Broker—Innovation' at the 2014 HFM US Hedge Fund Services Awards hosted by HFMWeek. This is the fourth time Pershing Prime Services has won an award from HFMWeek.
Each year the HFMWeek awards recognize leading hedge fund service providers from across the United States for exceptional customer service and innovative product development. Success in the 'Best Prime Broker—Innovation' category is based on demonstrating how enhancements to a core service or the launch of a new service has improved operational or asset raising conditions for clients.
The judging panel praised Pershing for being "a firm that is committed to genuinely bespoke client solutions" and for showing "innovation across the board."
"We are passionate about our clients' businesses, and creating solutions that help hedge funds and '40 Act funds strengthen their performance inspires us to innovate," said Gerry Tamburro, managing director of Pershing's prime brokerage unit. "It's an honor to be recognized by HFMWeek among an outstanding peer group."
Among the innovative solutions Pershing Prime Services provides to hedge funds and alternative '40 Act funds include:
Pershing and its affiliates provide global financial business solutions to approximately 1,600 financial organizations, broker-dealers, registered investment advisory firms, advisors, fund managers and asset managers who represent over 5.6 million active accounts. Located in 23 offices worldwide, Pershing delivers dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing affiliates are members of every major U.S. securities exchange, and its international affiliates are members of the Deutsche Borse, Australian Stock Exchange, Irish Stock Exchange, London Stock Exchange and Toronto Stock Exchange. Pershing LLC (member FINRA/NYSE/SIPC) is a BNY Mellon company. Additional information is available on www.pershing.com or follow us on Twitter @Pershing.
About Pershing Prime Services
Pershing Prime Services, the New Model Prime Broker™, delivers a comprehensive suite of prime brokerage solutions. We provide stable counterparty strength, extensive access to lendable securities, alternative sources of finance, dedicated client service, robust reporting tools, global execution and custodial solutions through the integrated platform of BNY Mellon. Pershing Prime Service is a service of Pershing LLC (member FINRA/NYSE/SIPC), a BNY Mellon company.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of Sept. 30, 2014, BNY Mellon had $28.3 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). www.bnymellon.com, or follow us on Twitter @BNYMellon
SOURCE BNY Mellon