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Industry news

Pershing Prime Services forms new strategic alliance


13 April 2011 Jersey City
Reporter: Justin Lawson

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Image: Shutterstock
Pershing has formed a strategic alliance with Roubini Global Economics. The agreement will provide Pershing's hedge fund, broker-dealer and registered investment advisor customers with exclusive research and analysis on trends and developments shaping the global economy. The first proprietary report, available exclusively through Pershing, is titled States and Sovereigns: Eurozone and U.S. State Debt Woes.

Roubini Global Economics, led by economist Nouriel Roubini, will produce semi-annual research reports and host conference calls that explore macroeconomic trends and developments. Roubini Global Economics will also participate in a series of events hosted by Pershing Prime Services, BNY Mellon Alternative Investment Services and BNY Mellon Global Markets that are designed to help alternative fund managers, advisers and investment professionals navigate the economic landscape.

The inaugural report, States and Sovereigns: Eurozone and US State Debt Woes, offers in-depth analysis of key questions surrounding the relative risks associated with Eurozone sovereign debt and US state debt, including, how US state finances are weathering the crisis given their diminished revenue and looming liabilities for pensions and other public employee benefits, and how high is the anticipated risk of debt default among nations on the Eurozone periphery in the next two years.

A discussion on the credit fundamentals of US municipal debt and Eurozone sovereign debt will be included during the April event, which features Arnab Das, managing director of Market Research and Strategy at Roubini Global Economics as the keynote speaker. Das will also explore the evolving financial and regulatory environment surrounding the alternative funds industry.

"As global economic shifts present new portfolio challenges and opportunities for fund managers, demand for timely, macroeconomic analysis is on the rise," said Craig Messinger, managing director of Pershing Prime Services. "Our relationship with Roubini Global Economics, a respected leader in economic research, underscores our commitment to providing our customers with a wide range of thought leadership and industry resources."

The strategic alliance formed with Roubini Global Economics enhances Pershing's institutional research services, which includes a real-time repository of research reports and recommendations that encompass thousands of global securities and a diverse range of methodologies, geographies and sectors.

"Understanding macroeconomic influences and their implications is more important than ever to the investment decision making process," said Arnab Das. "The exclusive research developed for Pershing's customers will help a growing universe of portfolio managers and financial advisors capitalise on new trends shaping the global economy.
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