Strength and Stability

Pershing LLC has been a leading global provider of financial business solutions for 75 years, serving many of the world’s most respected financial organizations. We remain committed to the safekeeping, servicing, segregation and reporting of our global client assets.

Financial Strength—December 31, 2014
Pershing's core financial strength provides the foremost measure of the protection of global client assets. Our parent company, BNY Mellon, is a leading provider of financial services for institutions, corporations and high-net-worth individuals. Pershing’s financial strength does not protect against loss due to market fluctuation.

Pershing

  • Approximately $1.5 trillion in global client assets (Pershing LLC and global affiliates)
  • Net capital of over $1.9 billion—well above the minimum requirement

BNY Mellon

  • $28.5 trillion in assets under custody and/or administration
  • $1.7 trillion in assets under management
  • $385.3 billion in total assets
  • $38.0 billion in total shareholders’ equity
  • $43.4 billion in market capitalization

Evaluation and Segregation of Assets
As required, Pershing segregates clients' fully paid-for assets from our own to ensure the return of client assets in the unlikely event of the financial failure of Pershing.

Understanding the Protection of Assets

Securities Investor Protection Corporation (SIPC®) Coverage
Pershing is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at SIPC.

Excess of SIPC Coverage Led by Lloyd's and Other Commercial Insurers
In addition to SIPC protection, Pershing provides coverage in excess of SIPC limits from certain underwriters in Lloyd's insurance market and other commercial insurers. The excess of SIPC insurance program is valid through February 10, 2016 for Pershing LLC accounts. It provides the following protection for Pershing LLC’s global client assets:

  • An aggregate loss limit of $1 billion for eligible securities—over all client accounts
  • A per-client loss limit of $1.9 million for cash awaiting reinvestment—within the aggregate loss limit of $1 billion

SIPC and the excess of SIPC insurance policy do not protect against loss due to market fluctuation.

An excess of SIPC claim would only arise if Pershing failed financially and client assets for covered accounts—as defined by SIPC—cannot be located due to theft, misplacement, destruction, burglary, robbery, embezzlement, abstraction, failure to obtain or maintain possession or control of client securities, or to maintain the special reserve bank account required by applicable rules.

Lloyd’s currently holds an A+ rating from Standard & Poor’s® (S&P®), an A rating from A.M. Best and an AA- rating from Fitch. These ratings are based on the financial strength of the company and are subject to change by the rating agencies at any time.1 For more information about Lloyd’s, please see www.lloyds.com.

1 Ratings as of January 2015.

 

UNDERSTANDING THE PROTECTION OF CLIENT ASSETS

Understanding the Protection of Client Assets Pershing remains focused on the safekeeping, segregation and reporting of assets held in custody.



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