Pershing LLC
American clearing house firm
- James T. Crowley (CEO)
- Lisa Dolly (chairperson)
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.
History
The firm was founded on January 1, 1939,[2] 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 — Warren "Jack" Pershing, the only son of celebrated World War I General of the Armies, John J. Pershing.[2]
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.[3]
In 2003, the Bank of New York (now BNY Mellon) acquired Pershing, the United States' second-largest trade clearinghouse at the time, from CSFB.[4]
Pershing LLC has 23 locations ranging from America to Europe, Middle East, Africa and Asia Pacific. [5]
References
- ^ "Management Team". pershing.com. Retrieved June 22, 2011.
- ^ a b "History and Heritage". pershing.com. Retrieved June 22, 2011.
- ^ "Credit Suisse Unit Confirms Agreement To Acquire DLJ in a $11.5 Billion Deal". Wall Street Journal. 30 August 2000.
- ^ "Bank of New York Acquires CSFB's Pershing For $2 Billion". TheStreet.com. January 8, 2003. Retrieved 14 January 2015.
- ^ "All Locations". www.pershing.com. BNY Mellon Pershing. Retrieved October 20, 2022.
External links
- Pershing
- Albridge – an affiliate of Pershing
- v
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BNY Mellon
- Alexander Hamilton
- Aaron Burr
- Thomas Mellon
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- 1 Wall Street
- BNY Mellon Center (Philadelphia)
- BNY Mellon Center (Pittsburgh)
- Mellon National Bank Building
- NEXEN
