BTIG announced today that they have added Pershing LLC as a new global custodian and clearing broker for customers of BTIG’s prime brokerage services. A unit of BNT Mellon, Pershing is a provider of B2B solutions for financial firms, including custody and settlement services.
For BTIG prime broke customers, the relationship with Pershing adds an additional clearing solution, which had been limited to only Goldman Sachs Execution and Clearing. One of the largest providers of custodian services for equities, adding Pershing fits BTIG’s main focus of its prime brokerage unit where they primarily target equity-focused hedge funds.
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Justin Press, Managing Director and Co-Head of Prime Brokerage at BTIG, commented on the adding of Pershing, “During our review of their offering, we were very impressed by Pershing’s technology, understanding of the operational environment and their attention to detail. This relationship will help us to continue to service our clients at the highest level, connecting them with top-tier services that help them meet their specific needs and requirements. We are excited to be working with another one of the industry’s largest providers of global clearing and settlement solutions, and believe that they are an ideal partner for our platform.”
Jim Crowley, Chief Relationship Officer for Pershing added, “We are very pleased to be collaborating with BTIG and this relationship demonstrates Pershing’s continued commitment to grow our offering in the Prime Brokerage space. More broadly, it reflects how we are personally invested in delivering unique solutions that leverage the full scope of the BNY Mellon enterprise to meet clients’ individual needs.”