BNY subsidiary Pershing will provide trading, custody, clearing and settlement services for online investment manager Nutmeg.
Nutmeg allows customers to invest money into a portfolio of assets, including equities, bonds and commodities. The firm invests customers’ money based on personal profiles, risk and investment timeframes.
Pershing’s wealth management custody solution will enable Nutmeg to provide investors with integrated access to global exchange markets.
Paul Bayliss, head of Wealth and Adviser Solutions at Pershing said:
"Nutmeg offers a refreshingly original service to a broad range of UK investors, responding to a market gap which will expand further post-Retail Distribution Review (RDR).
“We are happy to support Nutmeg by giving investors the confidence that their assets and cash balances are held in a secure, cost-effective and transparent way."
