A Heritage of Innovation
Foralmost85 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 toyour needs and evolve to helpyou succeed.
Part of the BNY Mellon Family
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 powers success across the financial world for individuals and institutions through unique insights, thinking and actions.
FAQs
Part of the BNY Mellon family
In 2003, Pershing was acquired by The Bank of New York, the longest-lasting financial institution in the United States.
What is the difference between BNY Mellon and Pershing? ›
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Brokerage custody provided by Pershing LLC, member FINRA, NYSE, SIPC, a BNY Mellon company. Brokerage services may be provided by Pershing Advisor Solutions LLC, member FINRA, SIPC. Bank custody provided by BNY Mellon, N.A, member FDIC.
What does BNY Mellon Pershing do? ›
BNY Mellon's Pershing can help you maximize new wealth management and investment strategies to improve profitability and drive business growth. Leverage the scale and strength of BNY Mellon for financing, collateral management and global trade execution.
What is the history of Pershing LLC? ›
Pershing LLC is an American clearing house. Formed in 1939, Pershing became a subsidiary of The Bank of New York (now BNY Mellon) in 2003. Pershing has nearly $1.9 trillion in assets under administration. The Bank of New York Mellon has more than $35.5 trillion in assets in custody.
Who did BNY Mellon merge with? ›
BNY Mellon was formed from the merger of The Bank of New York and the Mellon Financial Corporation in 2007. It is the world's largest custodian bank and securities services company, with $1.8 trillion in assets under management and $44.3 trillion in assets under custody at the end of 2022 fiscal.
Who are BNY Mellon Pershing competitors? ›
Alternatives to Pershing Financial Services
- Backstop Solutions Suite.
- Nitrogen.
- Morningstar Advisor Workstation.
- HiddenLevers.
- Morningstar Office.
- Altruist.
- eMoney.
- Altair.
We're the industry's largest provider of clearing and settlement solutions. ¹ BNY Mellon's Pershing can help you power your business by driving growth, creating scale and managing costs, and helping you stay ahead of new regulations.
Does BNY Mellon clear through Pershing? ›
Our Clearing Firm – Pershing LLC, a BNY Mellon company.
With The Investment Center, your brokerage accounts are held by Pershing.
Is BNY Mellon Pershing safe? ›
For more than 80 years, we have been committed to the safekeeping, servicing and reporting of assets for investors. With more than 7 million investor accounts and $2.0 trillion in global client assets worldwide, Pershing is the trusted choice. Critical to the global banking system.
Is BNY Mellon hard to work for? ›
BNY Mellon Reviews FAQs
Is BNY Mellon a good company to work for? BNY Mellon has an overall rating of 3.6 out of 5, based on over 11,102 reviews left anonymously by employees. 68% of employees would recommend working at BNY Mellon to a friend and 63% have a positive outlook for the business.
Pershing Square Capital Management is an American hedge fund management company founded and run by Bill Ackman, headquartered in New York City.
What firms clear through Pershing? ›
Clearing firms used by the top independent broker-dealers Click column headers to sort fields…
| Broker-dealer | Clearing firm |
|---|
| American General Securities | Pershing LLC |
| agsecurities.com | |
| FSC Securities Corp. | Pershing LLC |
| joinfsc.com | |
131 more rowsAn 1886 graduate of West Point, he had seen duty against the Plains Indians with both the 6th and 10th Cavalry Regiments. The 10th was one of two black cavalry regiments commanded by white officers. Pershing was called "Black Jack" in reference to his service with the10th, and the nickname stuck long after he left it.
Was Pershing a 5 star general? ›
The grade is sometimes described as a six-star general, as being senior to the five-star grade of General of the Army, but no six-star insignia was ever officially created and Pershing, the only person to be General of the Armies during his own lifetime, never wore more than four stars.
Is Pershing a custodian? ›
Pershing LLC acts on behalf of many financial organizations as a custodian for retirement accounts. Any custodian that is not a bank or insurance company—such as Pershing—is required to obtain approval from the Internal Revenue Service (IRS) to operate as a nonbank custodian for retirement accounts.
What companies does Pershing Square own? ›
Pershing Square Capital Management, L.P.s top holdings are Lowe`s Cos., Inc. (US:LOW) , Chipotle Mexican Grill (US:CMG) , Restaurant Brands International Inc (US:QSR) , Hilton Worldwide Holdings Inc (US:HLT) , and Howard Hughes Corporation (US:HHC) .
Who is the head of responsible investment at BNY Mellon? ›
BNY Mellon Investor Solutions Appoints Manisha Ali as Head of Responsible Investing.
Who is the founder of BNY Mellon? ›
Deeply embedded in our culture and business capabilities is staying committed to the innovative spirit of our founder, Alexander Hamilton.
