Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Pershing Buys Into Direct Indexing Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, December 02, 2021

Pershing Buys Into Direct Indexing

Reported by Neil Anderson, Managing Editor

A giant trading and custody ally to B-Ds and RIAs is buying into the direct indexing business.

Today, Jim Crowley, CEO of BNY Mellon's Pershing, and Ainslie Simmonds, president of the firm's new Pershing X unit, confirm that Pershing has agreed to acquire a direct indexing solutions provider called Optimal Asset Management, Inc. The deal is expected to close by the end of this month.

PJT Partners advised Optimal on the deal. On the legal side, Cooley LLP advised Optimal, while Sullivan and Cromwell LLP advised Pershing.

Crowley describes Pershing's Optimal deal as "the latest step in [the] Pershing X buildout, which aims to fuel growth by helping clients solve the challenge of managing multiple and disconnected technology tools and data sets." The deal will give Pershing's advisory clients and BNY Mellon Investment Management's institutional and retail clients access to Optimal's direct indexing capabilities.

"We're excited about joining Pershing X and the possibilities that we can jointly deliver to clients seeking customized direct indexing solutions," states Vijay Vaidyanathan, founder and CEO of Optimal. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2022: Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use