Pershing LLC is a subsidiary of The Bank of New York Mellon. Pershing has nearly $1 trillion in assets under administration. The Bank of New York Mellon has more than $25 trillion in assets in custody.
History
The firm was founded on January 1, 1939, as Pershing & Company with $200,000 in capital. The firm's original senior partners were Van Burger, Sr., Ed Cohan, Lou Froehlich, Dave Foster, and its namesake â€" Warren "Jack" Pershing, the only son of celebrated World War I General of the Armies, John J. Pershing.
In 2000, Credit Suisse First Boston, the capital markets division of Credit Suisse, assumed control of Pershing when it purchased Donaldson, Lufkin & Jenrette and its subsidiaries.
In 2003, BNY Mellon acquired Pershing LLC, the United States' second-largest trade clearinghouse at the time from CSFB.
References
External links
- Pershing
- Albridge - an affiliate of Pershing