Pershing
February 12, 2009
The market events of 2008 were certainly historic for financial organizations and investors. A tumultuous credit environment, volatile equity prices, and waning economic growth continue to test our industry’s limits. Investors across the globe also continue to rethink their investment strategies and have expressed concern over the strength and stability of their financial services providers.
Pershing continues to invest in the solutions financial services organizations need to help investors achieve their long-term financial goals even during this disruptive period. We continue to expand the number of markets and investment solutions available through our multi-currency platform to help investors take advantage of global investment opportunities. To support investors who are concerned about the current market volatility, we have the widest selection of money markets fund choices, and have added new cash management solutions including, brokered certificates of deposit, FDIC-insured bank deposit sweep offerings, and the Certificate of Deposit Account Registry Service® (CDARS®).
The challenges experienced by major firms during the market disruption, has created significant opportunities for financial organizations to attract quality investment professionals. Many investment professionals are interested in working in a more investor-centric business model and continue to explore regional firm, independent broker-dealer, and independent registered investment advisor models. To help investment professionals sort through their options, we have created a comprehensive advisor in transition program. Regardless of the model they select, investment professionals that provide investors with a comprehensive array of investment solutions to support their needs throughout the markets’ cycles, will build stronger long-term relationships.
These challenging times underscore the importance of aligning with a reliable and stable solution provider that has a long-standing track record of success. This year marks Pershing’s 70th anniversary, reminding us that our firm has a long history of helping our customers succeed through all kinds of market conditions and business cycles. Pershing and our parent company, The Bank of New York Mellon, are financially strong, and we continue to be a consultative partner in helping our customers manage business challenges and embrace new opportunities.
Pershing takes seriously our responsibilities to serve a broad array of financial organizations and to protect clients’ assets. We are well capitalized, a member of the Securities Investor Protection Corporation (SIPC®), and also offer the highest level of excess account protection coverage available through Lloyd’s of London, to provide investment professionals and investors with an even greater degree of comfort.
We are optimistic about the future for Pershing and The Bank of New York Mellon and remain committed to helping our customers outperform during these turbulent times. In wake of the market disruption, investors will need sound advice from investment professionals more than ever. We are confident that the platform of investment solutions and capabilities we support can empower our customers to help investors achieve their long-term financial goals and objectives.
