The Bank of New York Company, Inc.’s Pershing Unit Adds RiverSource Annuities to Subscribe® Annuity Platform
JERSEY CITY, N.J., October 11, 2006 -- Pershing LLC, a subsidiary of The Bank of New York Company, Inc., has begun providing its introducing broker-dealer customers with access to RiverSource Annuities' annuity products. The products will be accessible through Subscribe®, Pershing's annuity platform.
RiverSource's annuities can be viewed on Pershing's NetExchangePro® online brokerage platform and on monthly statements, allowing investment professionals to efficiently service and maintain annuity contracts.
Ron Fiske, managing director of the product management and development group at Pershing, said, "Pershing works closely with the industry's leading organizations to provide access to sophisticated financial products and services, such as RiverSource's selection of annuities. We are pleased to offer these products and will continue to broaden the array of annuity providers who participate in Subscribe." RiverSource Annuities offers a range of fixed and variable annuity products, issued by American Enterprise Life Insurance Company and American Centurion Life Assurance Company of New York..
Pershing LLC is a leading global provider of clearing and financial services outsourcing solutions to more than 1,100 institutional and retail financial organizations and independent investment advisors who collectively represent nearly six million individual investors. Located in 18 offices worldwide, Pershing provides customers with innovative technology solutions and a wide range of value-added products and services, including asset-gathering products and managed account services, extensive trading and financing capabilities, and web site development. Pershing LLC (member NYSE/NASD/SIPC) is a member of every major U.S. securities exchange and its international affiliates are members of the Deutsche Borse, the Irish Stock Exchange and the London Stock Exchange. Pershing LLC is a subsidiary of The Bank of New York Company, Inc. Additional information is available at www.pershing.com.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and private banking. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
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