On December 2, 2021, BNY Mellon’s Pershing announced that it will acquire Optimal Asset Management, Inc.
Under the terms of the transaction, BNY Mellon’s Pershing (“Pershing”) will acquire Optimal Asset Management, Inc. (“Optimal”). The transaction, subject to customary closing conditions, is expected to close before the end of 2021. Further terms of the transaction were not disclosed.
Pershing, based in Jersey City, New Jersey is an investments company providing clearing, trading and settlement, investment solutions, middle and back office support, business consulting, bank and brokerage custody, and data insights services to wealth management and institutional firms. Pershing has approximately $2 trillion in assets under management.
Optimal, based in Los Altos, California, is a Registered Investment Advisor providing asset management and Direct Indexing services to institutions, advisors, and wealth managers.
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