Build-up in Singapore meshes with U.S. clearing firm's Asian growth plans. Pershing has got the OK to provide clearing services in Singapore from the city-state's financial-service regulator. Pershing Securities Singapore will range of clearing and outsourcing services to institutional clients in Singapore.

Vital

"The Asia Pacific region continues to present us with one of the greatest growth opportunities for both Pershing and The Bank of New York Mellon," says Frank La Salla, head of Pershing's global securities services group. "Singapore is a vital financial marketplace for our Asian growth strategy, and we remain committed to expanding our global footprint further."

Jersey City, N.J.-based Pershing has 20 offices worldwide.It provides clearing and other investment-support services -- including third-party manager access -- to more than 1,150 financial organizations and independent RIAs.

Pershing is a subsidiary of the Bank of New York Mellon, which has been doing business in the Asian-Pacific region since the mid 1950s. BNY Mellon has 16 offices in the region, including full-service branches in Shanghai, Tokyo, Hong Kong, Singapore, Seoul, Sydney, Melbourne and Taipei.

Among other things, the U.S. megabank provides asset servicing, asset management, issuer services and treasury services in the region. -FWR

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