The Bank of New York Company, Inc.’s Pershing Unit Recognized with CIO Magazine Bold 100 Award
JERSEY CITY, N.J., September 7, 2005 – Pershing LLC, a member of BNY Securities Group and a subsidiary of The Bank of New York Company, Inc., was selected as a CIO magazine Bold 100 award recipient. Pershing was the only clearing and financial services outsourcing solutions provider to receive this recognition. CIO magazine honored 100 organizations that distinguished themselves through bold initiatives that demonstrated a willingness to embrace significant risk to achieve substantial rewards.
CIO magazine recognized Pershing for its commitment to organizational change and the bold steps the firm has taken to standardize and continuously improve its technology development methodology. For example, Pershing earned global Capability Maturity Model (CMM) Level 3 certification and implemented an Information Technology Infrastructure Library-based framework for analyzing its technology services. These efforts enabled Pershing to streamline and improve the quality of the technology solutions the firm provides to its introducing broker-dealer and independent registered investment advisor customers.
“Pershing’s recognition as a Bold 100 organization highlights our commitment to continuously improving the technology products and services we provide to our customers,” said Suresh Kumar, chief information officer, Pershing. “We will remain focused on strengthening our technology infrastructure and deliver leading-edge tools and solutions, enabling our customers to focus more attention on their core business strategies and building client relationships.”
Pershing is a leading global provider of clearing and financial services outsourcing solutions to more than 1,100 institutional and retail financial organizations and independent investment advisors who collectively represent nearly 6 million individual investors. Located in 22 offices worldwide, Pershing provides customers with innovative technology solutions and a wide range of value-added products and services, including asset-gathering products and managed account services, extensive trading and financing capabilities, and website development. Pershing LLC (member NYSE/NASD/SIPC) is a member of every major U.S. securities exchange and its international affiliates are members of the Frankfurt, Irish, and London Stock Exchanges. Pershing LLC is a member of BNY Securities Group and a subsidiary of The Bank of New York Company, Inc. BNY Securities Group is the global agency brokerage, clearing and financial services outsourcing sector of The Bank of New York Company, Inc.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, investment management, and individual & regional banking services. The Company’s extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
| « Back to Press Releases | « Previous Next » |
