Sanlam appoints BNY Mellon’s Pershing to provide trading, custody, and books and records to support its next phase of growth

April 2, 2019

LONDON — Sanlam UK’s wealth management division has entered into a multi-year agreement with BNY Mellon’s Pershing (“Pershing”), a market leading provider of trading, clearing, settlement and custody services. Pershing will assume responsibility for Sanlam’s investor custody, books and records, and deliver best execution through its trading platform.

By leveraging Pershing’s expertise in trading and custody, Sanlam will be able to further focus on working with its clients to achieve their financial goals. This comes as wealth managers increasingly seek partnerships to support the growth of their business, separating the processes of advice and money management, and client asset regulation that goes with the custody of assets.

Pershing was selected after a comprehensive tender process, based on its expertise and track record in providing trading and custody solutions to support the growth ambitions of wealth managers in the UK. Established in Europe in 1987, Pershing is a leading provider of outsourced financial solutions to banks, broker-dealers, wealth managers and advisers, helping clients by providing safety, certainty and greater efficiency for their businesses.

Geoff Towers, Chief Executive Officer, Pershing Limited, commented: “We are excited to have been appointed by Sanlam Wealth and to be part of supporting its growth aspirations. The wealth management industry is undergoing huge transformation as firms seek to focus their time and attention on delivering best-in-class advice and service to their clients. This is driving greater collaboration across the industry, with wealth managers seeking trusted partners to help them grow their businesses. Our partnership with Sanlam Wealth UK is testament to this, and we expect this trend will gain further momentum.”

Jonathan Polin, CEO, Sanlam UK, said: “As we transform our wealth management division, we are pleased to have appointed Pershing to allow us to focus on the core area of our business – protecting and growing our clients’ wealth. Pershing is a highly respected global leader in the provision of custody solutions and our decision to select them reflects our ambition to provide the very best service to our clients.”

Pershing currently serves over 90 firms in EMEA and offers front, mid, and back office solutions, including Pershing Nexus Wealth®, the professional portal with integrated CRM, and Pershing Nexus Investor®, an investor portal, launched in 2018.

Sanlam UK carefully manages over £15 billion of client assets, providing wealth and investment services for private individuals, intermediaries, charities and institutions. Sanlam UK has a broad range of award winning products and services, allowing it to meet financial aspirations of clients whatever their life stage or wealth profile.

About Sanlam UK

Sanlam Limited is an international financial services group with a listing on the Johannesburg Stock Exchange and a market capitalisation of £12.1 billion. Established in 1918, the group provides a range of services to over 10 million clients globally, including insurance, financial planning, investments and wealth management.

  • Sanlam UK is led by CEO Jonathan Polin. The firm consists of a number of long established businesses, including:
  • Sanlam Private Wealth: The discretionary fund manager with £2.7 billion of client assets under management
  • Sanlam Investments & Pensions: The life and pensions business with in excess of £2.7 billion of assets under administration
  • Sanlam Investments: The boutique asset management and fund business which manages over £5.9 billion in both single strategy and long only funds and specialist multi-asset solutions.
  • Sanlam Wealth Planning: The national financial adviser with nearly £2 billion of client assets under advice and 60 UK-based advisers
  • In total, the firm has over £12 billion of assets under management or influence
  • Sanlam UK attained its size, strength and reputation by leveraging the benefits of having a large secure South African parent company while focussing on individual client service delivered locally in the UK.

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 institutional and retail financial organisations and independent investment advisers. Pershing LLC (member FINRA/NYSE/SIPC) is a member of every major US securities exchange, and both are subsidiaries of The Bank of New York Mellon Corporation. Additional information is available at pershing.com/europe.

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.

.