Celadon Financial Group announced a new clearing arrangement with Pershing LLC, a BNY Mellon Company effective May 6th, 2011 according to Daryl Hersch, Managing Member and CEO of the firm. The change of custodian was a result of Jefferies Correspondent Clearing Services exiting the clearing business and being acquired by Pershing LLC in the latter part of last year.
The services and technology provided by the new custodian will greatly enhance Celadon’s capability in prime brokerage, wealth management, and execution services in the US and abroad offering our broad client base advanced technology, additional financial products and numerous financial services.
Some of those benefits can be summarized as follows:
- The unique strength, global resources and combined custody services of Pershing LLC and BNY Mellon
- Execution and clearing capabilities in more than 60 markets with settlement in local or US currency
- Expanded coverage and a broad offering of government, agencies, municipal, and corporate
- Access to a large pool of lendable assets with Pershing LLC and BNY Mellon
- Advanced portfolio reporting capabilities as well as multi-currency reporting for wealth management and hedge fund clients
- A broad range of innovative investment solutions such as cash management, mutual funds, and a broad selection retirement solutions.
- Enhanced technology platform which provides our client base with an advanced internet portal to obtain account information, statements, confirmations, market data, research and a variety of investment tools
Celadon’s transition to Pershing will be supported by the Jefferies Relationship Management Team, who have been acquired as employees at our new custodian. Their expertise and knowledge of our business, coupled with the vast experience of the Pershing conversion team and our executive and operational staff is a winning combination for a smooth transition.
Celadon Financial Group LLC is a registered broker dealer specializing in institutional, prime brokerage, execution services, wealth management, and investment banking and is a member of FINRA, MSRB and SIPC.