JERSEY CITY, N.J.,
Nov. 12, 2015 /PRNewswire/ -- Pershing LLC, a BNY Mellon
company, today announced that its prime services unit has been
named 'Best Prime Broker—Innovation' by HFM US Hedge Fund Services
Awards at the 2015 event. This is the fifth time that HFM has
honored Pershing Prime Services with an award, and the second
consecutive year that it has designated Pershing as the industry's
most innovative prime broker.
The HFM US Hedge Fund Services Awards recognize leading hedge
fund service providers for exceptional customer service and
innovative product development. The 'Best Prime Broker—Innovation'
category focuses on enhancements to core services or the launch of
new services that have improved operational or asset raising
conditions for clients. A panel of independent judges assessed
entrants, based on financial progress, growth and genuine
innovation.
"The hedge fund industry is evolving rapidly, and as a key
service provider to fund managers we continue to evolve as well,"
said Gerry Tamburro, managing
director, Pershing Prime Services. "We are personally invested in
helping our clients achieve success, whether that is through
helping them launch a new '40 Act fund or helping them achieve
greater efficiency through our collateral management technology.
Our recognition in this category for the second consecutive year
underscores the value we place on delivering innovative, insightful
and responsive solutions to our clients."
Over the past several years, Pershing has been active in
educating alternative fund managers on the opportunities and
challenges presented by the convergence of '40 Act funds and
traditional hedge funds. In addition to leveraging its annual
INSITE conference to expose investment managers to discussions on
the liquid alternatives space, Pershing held focused forums that
provided market participants with insight on topics such as
distribution and defined contribution plans, customization and
cannibalization of business models, and benchmarking and
categorization.
While leading the liquid alternatives conversation, Pershing
continues to develop a comprehensive toolset to help its clients
address a broad range of operational and strategic challenges,
including:
- Enterprise solutions: A dedicated '40 Act team, as well
as an integrated platform to support the special account custody
model, turnkey BNY Mellon services and risk monitoring/analytics
solutions
- Technology: PrimeConnect™ and PrimeConnect40™ provide
transparency and online control of collateral selection and enable
automated movement of collateral between the custodian and prime
broker, allowing clients to access both services in one place
- Platform access: A broad open-architecture mutual
fund platform that allows broker-dealers and RIAs to create
tailored portfolios and provides added visibility and market access
for fund managers
In addition to awarding BNY Mellon's Pershing Prime Services,
HFM named BNY Mellon's Alternative Investment Services business
'Best Fund of Hedge Fund (FoHF) Administrator – Over $30 Billion in Assets' for the fourth year in a
row. The group now has approximately $140
billion in FoHF assets under custody and administration.
About Pershing Prime Services
Pershing Prime Services,
the New Model Prime Broker™, delivers a comprehensive
suite of prime brokerage solutions. We provide stable counterparty
strength, extensive access to lendable securities, alternative
sources of finance, dedicated client service, robust reporting
tools, global execution and custodial solutions through the
integrated platform of BNY Mellon. Pershing Prime Service is a
service of Pershing LLC (member FINRA/NYSE/SIPC), a BNY Mellon
company.
About BNY Mellon Alternative Investment Services
BNY
Mellon is a leading administrator of alternative assets – including
single manager hedge funds, funds of hedge funds, and private
equity – with more than $750 billion
of alternative assets under administration and/or custody and
offices worldwide. BNY Mellon also offers a wide range of cash
management, foreign exchange, collateral management, corporate
trust, and wealth management services to the alternative
investments industry.
About Pershing
Pershing and its affiliates provide
global financial business solutions to advisors, asset managers,
broker-dealers, family offices, registered investment advisor firms
and wealth managers. A financial services firm located in 23
offices worldwide, Pershing provides business-to-business solutions
to clients representing 6 million active investor accounts on the
U.S. platform. Pershing affiliates are members of every major U.S.
securities exchange, and its international affiliates are members
of the Deutsche Borse, Australian Stock Exchange, Irish Stock
Exchange, London Stock Exchange and Toronto Stock Exchange.
Pershing LLC (member FINRA/NYSE/SIPC) is a BNY Mellon company.
Additional information is available on pershing.com, or follow us
on Twitter @Pershing.
About BNY Mellon
BNY Mellon is a global investments
company dedicated to helping its clients manage and service their
financial assets throughout the investment lifecycle. Whether
providing financial services for institutions, corporations or
individual investors, BNY Mellon delivers informed investment
management and investment services in 35 countries and more than
100 markets. As of Sept. 30, 2015,
BNY Mellon had $28.5 trillion in
assets under custody and/or administration, and $1.6 trillion in assets under management. BNY
Mellon can act as a single point of contact for clients looking to
create, trade, hold, manage, service, distribute or restructure
investments. BNY Mellon is the corporate brand of The Bank of New
York Mellon Corporation (NYSE: BK). Additional information is
available on www.bnymellon.com. Follow us on Twitter @BNYMellon or
visit our newsroom at www.bnymellon.com/newsroom for the latest
company news.
Contact:
Cassandra
Osei
+1 201 413
3394
cassandra.osei@pershing.com
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SOURCE BNY Mellon