February 19, 2018
BNY Mellon’s Pershing Limited* [Pershing], a leading provider of global financial business solutions, today announced that its assets under custody and administration (AuC) grew by over 20% in 2017 to reach £63 billion as at 31 December 2017.
The increase in AuC has been fueled by the growth of Pershing’s clients’ businesses, with acquisition and consolidation activity in the wealth management market an important factor in driving asset growth.
“This growth demonstrates the value we add to our clients’ businesses through our broad range of financial business solutions,” said Geoff Towers, CEO of BNY Mellon’s Pershing Limited. “Our sophisticated front-end technology and flexible middle office capabilities with execution, settlement and custody services help our clients scale their businesses and grow assets safely and securely.”
As one of the first clearing houses in the European market established in October 1987, BNY Mellon’s Pershing has a proud thirty-year history as a specialist provider of trading, clearing, settlement and custody solutions. Since 2003, Pershing has been part of BNY Mellon, the world’s largest global custodian. This adds to our expertise and provides further strength and stability to our business model. BNY Mellon’s Pershing continues to lead the market through the ongoing development services, such as the new integrated digital solutions for wealth managers, and a robust regulatory and compliance framework including our most recent programme for MiFID II.
* Through its subsidiaries Pershing Securities Limited, Pershing Securities International Limited and Pershing (Channel Islands) Limited.
About BNY Mellon's Pershing Limited
BNY Mellon’s Pershing Limited and its subsidiaries provide broker-dealers, asset managers, intermediary firms, IFAs, and financial institutions across EMEA with a comprehensive range of products, services, and solutions including fully disclosed custody, clearing and settlement for wealth managers and advisers as well as institutional global clearing 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 Limited (EquityClear®). Pershing Securities Limited is a member of various markets and clearing houses including Deutsche Börse, Eurex Clearing, LCH SA and EuroCCP NV. Pershing Limited is an affiliate of Pershing LLC, a leading global provider of financial business solutions to more than 1,400 institutional and retail financial organisations and independent investment advisers. Pershing LLC (member FINRA/NYSE/SIPC) is a member of every major U.S. securities exchange, and both are subsidiaries of The Bank of New York Mellon Corporation. Additional information is available at pershing.co.uk.
About BNY Mellon's Pershing
BNY Mellon’s Pershing and its affiliates provide advisors, broker-dealers, family offices, hedge fund and ’40 Act fund managers, registered investment advisor firms and wealth managers with a broad suite of global financial business solutions. Many of the world’s most sophisticated and successful financial services firms rely on Pershing for clearing and custody, investment and retirement solutions, technology, enterprise data management, trading services, prime brokerage and business consulting.
Pershing helps clients improve profitability and drive growth, create capacity and efficiency, attract and retain talent, and manage risk and regulation. With a network of offices worldwide, Pershing provides business-to-business solutions to clients representing approximately 7 million investor accounts globally. Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. Additional information is available on pershing.com, or follow us on Twitter @Pershing.
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. As of December 31, 2018, BNY Mellon had $33.1 trillion in assets under custody and/or administration, and $1.7 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). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.