JERSEY CITY, N.J., Oct. 26, 2011 /PRNewswire/ -- Pershing LLC, a BNY Mellon company, announced today that it has enhanced its Trust Network with the additions of Comerica Bank & Trust, NA and New York Private Trust Company. Trust Network is Pershing's open-architecture platform that enables its introducing broker-dealer and independent registered investment advisor (RIA) customers to offer their clients a wide range of personal trust services and solutions from industry leading trust companies.
"Investment professionals and advisors who serve sophisticated clients need the flexibility to offer the trust administration provider that can best support their business objectives and clients' needs," said Katie Swain, director of product management and development for Pershing. "The additions of Comerica and New York Private Trust Company expand our extensive suite of wealth management solutions and provide our customers with best of breed choices for serving their clients."
Comerica Bank & Trust, NA, a subsidiary of Comerica Incorporated, is one of the 25 largest U.S. bank holding companies and has over $100 billion in trust and custody assets. Comerica is a pioneer and a leader in forming strategic alliances with financial organizations to provide a wide variety of personal trust services including estate settlement, trust administration, closely-held business management and real estate management. New York Private Trust Company is a Delaware-chartered trust company providing a broad range of fiduciary services to investment advisors and other institutions lacking trust powers throughout the United States.
The broad array of capabilities offered through Pershing's Trust Network includes full trustee services and administrative trustee services. The platform enables Pershing's customers to perform investment management activities for their clients' trust accounts with all related assets held in custody at Pershing. Trust Network is available to Pershing's introducing broker-dealer customers through Pershing LLC and RIAs via Pershing's affiliate, Pershing Advisor Solutions LLC.
Pershing LLC (member FINRA/NYSE/SIPC) is a leading global provider of financial business solutions to more than 1,500 institutional and retail financial organizations and independent registered investment advisors who collectively represent more than five million active investors. Located in 21 offices worldwide, Pershing and its affiliates are committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing is a member of every major U.S. securities exchange and its international affiliates are members of the Deutsche Borse, the Irish Stock Exchange and the London Stock Exchange. Pershing LLC is a BNY Mellon company. Additional information is available at www.pershing.com.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.9 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com and through Twitter@bnymellon.
SOURCE Pershing LLC