Pershing, a BNY Mellon company, is opening a Jersey-based subsidiary company in response to client demand for access to both onshore and offshore investment opportunities.
The company says the new office will deliver a full breadth of services from order execution, including direct market access and support of the full transaction life-cycle, to asset custody in a “unique service model”.
Pershing is a supplier of front-to-back outsourcing services and solutions to private banks, private wealth managers and brokers, and presently serves clients from offices in the UK and Ireland.
The aim of the Jersey office is to 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 CEO Charles van der Merwe.
“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 new office in St. Helier later this year.
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