Products Financial services Founded 1 January 1939 | CEO Lisa Dolly | |
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Key people Lisa Dolly, Chief Executive Officer
Brian Shea, Chairman Headquarters Jersey City, New Jersey, United States Motto "Your Business Without Limits" Parent organizations Bank of New York, Pershing Group LLC, MELLON CAPITAL MANAGEMENT CORP Profiles | ||
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 — 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.