The Bank of New York Company, Inc.’s Pershing Unit Adds Ameritas Life Insurance Corp. to Subscribe® Annuity Platform
JERSEY CITY, N.J., October 4, 2006 – Pershing LLC, a subsidiary of The Bank of New York Company, Inc., has begun providing its introducing broker-dealer customers with access to Ameritas Life Insurance Corp.’s annuity products. The products will be accessible through Subscribe®, Pershing’s annuity platform.
No-load variable products from Ameritas can be viewed on Pershing’s NetExchangePro® online brokerage platform and on monthly statements, allowing investment professionals to efficiently service and maintain annuity contracts.
Mitchell Politzer, senior vice president at Ameritas Direct, said, “Pershing’s Subscribe platform is one of the most comprehensive and innovative annuity platforms in the industry. We are pleased to join an acknowledged industry leader with a strong commitment and track record of providing investment professionals with a wide array of value-added products and solutions.”
Ron Fiske, managing director of the product management and development group at Pershing, said, “The addition of Ameritas to our Subscribe platform reinforces our commitment to providing customers with the highest quality services and solutions that help them compete in today’s increasingly competitive business environment. We are pleased to add Ameritas’ products to our platform and will continue to increase the number of annuity providers available in Subscribe.”
Ameritas Life Insurance Corp. pioneered the concept of no-commission life insurance over two decades ago. Ameritas distributes this unique series of financial solutions through its Ameritas Direct division. Variable products are underwritten by Ameritas affiliate Ameritas Investment Corp. For over a century, through recessions, depressions and World Wars, Ameritas has favored steady growth over risky, short-term results. This philosophy has enabled Ameritas to maintain a reputation for outstanding financial stability. Ameritas Investment Corp. and Pershing LLC are unaffiliated.
Pershing LLC 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 six million individual investors. Located in 18 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 web site 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 Deutsche Borse, the Irish Stock Exchange and the London Stock Exchange. Pershing LLC is a subsidiary of The Bank of New York Company, Inc. Additional information is available at www.pershing.com.
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, asset management, and private banking. 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.
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