BNY Mellon chief bullish on Pershing client pipeline for 2019

Jan 17, 2019 - Global Custodian
Financial Results

BNY Mellon’s chief executive outlined to investors it is onboarding a number of high-profile clients for its Pershing business, and is planning further improvements to its asset servicing division.

Charlie Scharf, CEO and chairman of BNY Mellon, explained on its fourth quarter earnings call that while revenue for Pershing declined 2% year-on-year, it is preparing to bring on a strong line-up of new clients.

“We have a very significant pipeline of signed business within Pershing w...