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

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.

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.
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BNY Mellon’s Pershing
Liz Ozaist
+1 (347)-528-3559

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