Jersey Finance  welcomes the news that Pershing, a BNY Mellon company, has announced plans to open an office in Jersey later this year. Pershing’s  arrival strengthens the outsourcing services the Island is able to offer to private banks, private wealth managers and brokers looking to utilise the Island as an international finance centre.

Geoff Cook, chief executive of Jersey Finance, commented:

“Jersey Finance, along with Jersey Enterprise and the Jersey Financial Services Commission, has been working closely with Pershing for some time to help the directors to make an informed decision about moving to the Island. It is testament to the high standards of regulation and professionalism that Jersey is able to offer that Pershing chose Jersey, rather than any competitor jurisdictions that they initially considered.

“Furthermore, the US is known to be demanding of the highest standards from offshore jurisdictions, so it is particular encouraging that Pershing, a  BNY Mellon company, which has its headquarters in New York, has put its confidence in Jersey with its highly transparent and co-operative finance industry credentials.”

ENDS

For further information, please contact Leah Dunford at Crystal Public Relations on tel. +44 (0) 1534 618613 or e-mail leah@crystalpr.co.uk