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As Pershing, a BNY Mellon company, opens its new office in Jersey, it aims to transform the way the Channel Islands’ finance industry conducts business

organisations and independent investment advisers around the world, Pershing, a BNY Mellon company, is one of the most recognised and respected names in its field. Already serving its clients from 21 offices worldwide, it is about to add another location to that list by opening a new office in Jersey. “We are delighted to be launching


Pershing in the Channel Islands,” says Chief Relationship Officer, Jason Nabi. “And while the office is based in Jersey, it will be specifically focused on servicing client needs across both islands.” The launch of the business has been in the

pipeline for some time, and the organisation has been working in close communication with the Jersey Financial Services Commission, Jersey Finance and local industry in order to design an offering that will appeal to a whole range of financial service providers. “As the security services and clearing

business within the BNY Mellon group, we specialise in providing client solutions that include trading and execution services, portfolio administration, clearing, settlement and custody for private banks, and both private client institutional brokerage firms and wealth managers.” In truth, this is actually quite a modest simplification of what Pershing is going to be offering such providers – the suite of services available will cover a much wider variety of requirements.

Bespoke servicing As far as Nabi is concerned, Pershing is simply filling a demand – however, it is a demand that is different for every client. “These types of firms need the most optimal model that enables them to deliver a service to their end clients,” he explains. “In a constantly evolving regulatory framework, in an industry that now

40 August/September 2011

S A LEADING provider of financial business solutions to more than 1,500 institutional and retail financial

dictates scale as a means to cost efficiency, and in a truly global market the benefits of outsourcing trade processing, and middle and back office processes are clearly established. We are able to fulfil a variety of roles, and that makes what we do unique in the islands.” Indeed, Pershing has an extensive suite

of services available that include operational capabilities, securities processing, client reporting, asset servicing, clearance and settlement and global execution. “We consider ourselves a strategic partner

to the businesses we work with,” Nabi explains. “We can become their middle office or back office, or we can become an extension of their trading desk. We deliver the benefit of scale in terms of operational capability, and can also deliver a degree of comfort and assurance as well as expertise when it comes to matters such as regulation and end-client servicing.” The constantly changing financial

landscape has made the Pershing offering perhaps even more pertinent. Many firms

simply do not have the capacity or expertise to adapt to regulatory or compliance changes in-house and need the expertise of someone outside that is immersed in such areas. “The truth is that we can take on as little

or as much as a client wants us to,” says Nabi. “We may simply undertake a client’s clearing facility or become their custodian, but we often find that we are looking at all the other things around that – so you almost become the COO office, with some of the compliance support, some of the client reporting support, and some of the execution and trading. Effectively we become more strategically important to the way in which they develop their business model, the way in which they price their service to their clients, and the way in which these firms can develop their proposition to their end client. “We really do believe this is a brand new

service for the Channel Islands – the first fully integrated solution that covers everything from execution and trading support and desk

From left: Michael Rothwell, Country Manager, Channel Islands; Jason Nabi, Managing Director, Chief Relationship Officer; and Damian Powell, Director, Private Wealth Solutions

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