For almost 80 years, BNY Mellon's Pershing has been recognized as a Wall Street innovator. From our early days on the floor of the NYSE to the award-winning technology we provide today, we have earned a reputation for thinking ahead—and staying ahead of the marketplace.
The firm was founded on January 1, 1939 as Pershing & Company and boasted $200,000 in capital. The firm's original senior partners were Van Burger, Sr., Lou Froehlich, Dave Foster and Warren "Jack" Pershing, the only son of celebrated WWI General of the Armies, John J. Pershing.
Initially, Pershing's vision centered on providing trade execution and clearance services to financial services firms located outside of the New York metropolitan area. Another early decision that set the firm apart was to establish a presence in strategic zones on the floor of the NYSE, a move designed to ensure that the firm provided clients with fast, efficient trade execution.
During Pershing & Company's early years, three of the firm's senior partners were called to serve in World War II. Following the war's end, Pershing continued to build a reputation for providing regional financial services firms with unparalleled access to the NYSE and the AMEX, the world's leading exchanges.
Since our beginnings in 1939 as an execution provider for regional financial organizations, Pershing has grown to become a global financial business solutions provider with offices around the world. We are a company built by our clients—we respond to your needs and evolve to help you succeed.
In 2003, Pershing was acquired by The Bank of New York, the longest-lasting financial institution in the United States. Alexander Hamilton had founded the bank in 1784, had written its constitution and guided the organization through its early stages. The bank opened for business at the Walton House in Lower Manhattan on June 9, 1784, only a few months after the departure of British troops from American soil.
In 2007, the merger of The Bank of New York and Mellon Financial Corporation formed BNY Mellon. Today, BNY Mellon is the Investments Company for the World, providing Pershing and all its clients the backing and resources of a global leader.