Pershing LLC · Jersey City, NJ United States
Company Description
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This link will open in a new window Pershing marshals its forces in the service of securities clearing, execution, and settlement services to financial institutions and brokerages worldwide. The company deals in domestic and international equities, fixed-income products, and foreign exchange. It also performs compliance support, custody, and brokerage account reporting services, and provides managed account programs, cash management, retirement accounts and plans, access to mutual funds, and other products and services to brokerage firms and investment advisors. Pershing has more than $700 billion in assets held in custody. It operates about 20 offices around the globe and is a member of more than 60 exchanges. To read the full description, subscribe now.
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Key Pershing LLC Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Employees | 3,700 |
Pershing LLC Executives
22 executives listed for Pershing LLC's Jersey City, NJ location.
| Title | Name & Bio | Contact |
| Chairman and CEO | Richard Brueckner | Network |
| President and COO | Brian Shea | Network |
| Managing Director and CFO | Dennis Wallestad | Network |
Competition
Competitive Landscape for Pershing LLC
Demand is driven by economic activity that results in company mergers, acquisitions, or public financing. The profitability of an investment bank depends on its ability to accurately assess both the value of a business transaction and the readiness of the market to buy the attendant debt or equity. Big firms have an advantage because large customer transactions require firms with substantial financial resources. Small investment banks can compete by participating in syndications and operating in regional markets or specialized industries. Although labor-intensive, the industry produces very high value: average annual revenue per employee at large firms is under $1 million. The global financial crisis of 2008-2009 dramatically altered the landscape of the investment banking industry. Morgan Stanley and Goldman Sachs, the only large firms still intact, have changed their status from investment banks to bank-holding companies. Both firms still engage primarily in investment banking, but former industry leaders such as Bear Stearns, Merrill Lynch, and Lehman Brothers have either been acquired or have filed for bankruptcy protection. The demise of these firms and the late 2000s recession have likely ushered in a new era in which the creation of innovative but risky financial instruments will be replaced by more traditional banking services. The new environment also means more industry oversight by the federal government, which had to step in and bail out dozens of financial services firms with billions of dollars of taxpayers' money. To read the full description, subscribe now.Top Pershing LLC Competitors
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