Pershing, a BNY Mellon company, has expanded its presence in India with the creation of Pershing India Operational Services (Pershing India).
The new premises would be located in Chennai, The Times of India has reported.
The new Pershing India will have 450 associates and will support various mission-critical business operations for its parent organisation in financial business solutions.
The business operations will include prime brokerage, hedge funds, trade processing for equities, fixed income, mutual funds and options and security pricing, while the corporate services will include regulatory reporting, tax management and compliance.
The publication quoted Karen Peetz, president, BNY Mellon, saying that, "Chennai is widely viewed as one of the most highly regarded technology and business process hubs in the world and we are thrilled to be a part of this."
BNY Mellon has a long history with Chennai. iNautix Technologies, a BNY Mellon company, was formed in 2000 to provide technology development, technology operations and remote infrastructure management services for BNY Mellon and its subsidiaries.
According to the publication, BNY Mellon houses more than 5,000 operations staff at Chennai and Pune performing a wide range of financial services processes for BNY Mellon’s investment management and investment services businesses.