{"id":37760,"date":"2023-07-19T13:05:47","date_gmt":"2023-07-19T17:05:47","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/first-republic-fallout-hits-bny-mellons-pershing\/"},"modified":"2023-07-19T13:05:49","modified_gmt":"2023-07-19T17:05:49","slug":"first-republic-fallout-hits-bny-mellons-pershing","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=37760","title":{"rendered":"First Republic Fallout Hits BNY Mellon\u2019s Pershing"},"content":{"rendered":"<div>\n<p>The banking crisis that engulfed First Republic Bank earlier this year spurred scores of the bank\u2019s elite advisors to jump to competitors and ultimately led to the lender\u2019s collapse. The fallout is also taking a toll on Bank of New York Mellon\u2019s Pershing unit.<\/p>\n<p>That\u2019s because Pershing, one the nation\u2019s largest custodians, held assets for First Republic\u2019s wealth management clients. On Tuesday, BNY Mellon (ticker: BK) reported that Pershing experienced $34 billion in net asset outflows, nearly canceling out the $37 billion in&#8230;\n    <\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.barrons.com\/advisor\/articles\/first-republic-bny-mellon-pershing-asset-outflows-c375f245?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The banking crisis that engulfed First Republic Bank earlier this year spurred scores of the bank\u2019s elite advisors to jump to competitors and ultimately led to the lender\u2019s collapse. The fallout is also taking a toll on Bank of New York Mellon\u2019s Pershing unit. That\u2019s because Pershing, one the nation\u2019s largest custodians, held assets for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":37761,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-37760","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>First Republic Fallout Hits BNY Mellon\u2019s Pershing | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The banking crisis that engulfed First Republic Bank earlier this year spurred scores of the bank\u2019s elite advisors to jump to competitors and ultimately\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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