The Bank of New York Company, Inc.’s Pershing Unit Adds Lincoln Financial Group’s Annuities to Subscribe® Annuity Platform
JERSEY CITY, N.J., October 18, 2006 -- Pershing LLC, a subsidiary of The Bank of New York Company, Inc., has begun providing its introducing broker-dealer customers with access to Lincoln Financial Group's annuity products. The products will be accessible through Subscribe®, Pershing's annuity platform.
Lincoln Financial Group's annuities can be viewed on Pershing's NetExchange Pro® online brokerage platform and on monthly statements, allowing investment professionals to efficiently service and maintain annuity contracts.
Don Mockler, 2nd vice president of annuity client service at Lincoln Financial Group, said, "Subscribe is one of the most comprehensive and innovative annuity platforms in the industry. We are pleased to join a premier industry leader with a strong commitment and track record of providing investment professionals with a broad array of value-added solutions."
Ron Fiske, managing director of the product management and development group at Pershing, said, "The addition of Lincoln Financial Group to our Subscribe platform further exemplifies our commitment to provide our customers with best-of-breed products, services and solutions that help them compete in today's increasingly competitive business environment."
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in Philadelphia, Lincoln Financial Group had consolidated assets of $167 billion as of June 30, 2006, and had annual consolidated revenues of $5.5 billion in 2005. The company offers: annuities; life, group life and disability insurance; 401(k) and 403(b) plans; savings plans; mutual funds; managed accounts; institutional investments; and comprehensive financial planning and advisory services. For more information please visit www.lfg.com.
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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