title: Pershing LLC
text: # Pershing LLC
  
  Pershing LLC is an American clearing house. Formed in 1939, Pershing became a subsidiary of The Bank of New York (now BNY Mellon) in 2003. Pershing has nearly $1.9 trillion in assets under administration. The Bank of New York Mellon has more than $35.5 trillion in assets in custody.
  
  ## History
  
  The firm was founded on January 1, 1939, as Pershing & Company with $200,000 in capital. The firm's original senior partners were Van Burger, Sr., Ed Cohan, Lou Froehlich, Dave Foster, and its namesake — Warren "Jack" Pershing, the only son of celebrated World War I General of the Armies, John J. Pershing.
  
  In 2000, Credit Suisse First Boston, the capital markets division of Credit Suisse, assumed control of Pershing when it purchased Donaldson, Lufkin & Jenrette and its subsidiaries.
  
  In 2003, the Bank of New York (now BNY Mellon) acquired Pershing, the United States' second-largest trade clearinghouse at the time, from CSFB.
  
  Pershing LLC has 23 locations ranging from America to Europe, Middle East, Africa and Asia Pacific.
  
  