Outsourcing providers for private banks, wealth managers and brokers new Channel Island office Print
Company News - Company News
Tuesday, 09 August 2011 06:58

Pershing Limited, a BNY Mellon company, announced today that it will launch a subsidiary company in the Channel Islands and open an office in St. Helier, Jersey.

Pershing’s entry into the Channel Islands is in response to its clients’ demands for access to both onshore and offshore investment opportunities through the same financial services solutions provider.

Pershing’s new initiative will deliver a full breadth of services from order execution, including direct market access and support of the full transaction lifecycle, to asset custody in a unique service model.
Pershing, a supplier of front to back outsourcing services and solutions to private banks, private wealth managers and brokers, serves clients from offices in the UK and Ireland. The addition of the Jersey office will provide clients with an integrated offshore solution across all of the asset classes used by private wealth firms.
“Opening a Channel Islands office represents an important part of our strategic plan to provide private wealth managers and private banks with a competitive onshore and offshore capability in Europe,” said Charles van der Merwe, chief executive officer at Pershing Limited. “We chose Jersey as the best place for our Channel Islands solution because of its reputation as a well-regulated offshore jurisdiction. Jersey’s position as a leading offshore centre will provide Pershing clients with a strong solution that will enable future growth of their businesses.”
Pending regulatory approvals, Pershing expects to open its Channel Islands office in St. Helier later this year.
Pershing Limited provides broker-dealers, asset managers, intermediary firms, IFAs, and financial institutions across Europe with a comprehensive range of products, services, and solutions including retail clearing, fully disclosed institutional global clearing, broker services, 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 and Ireland.