Week’s Best: First Republic Collapse Could Hurt BNY Mellon’s Pershing

As JPMorgan Chase begins to digest its recent acquisition of the failed regional bank First Republic, some analysts are warning that one of First Republic’s partners, Bank of New York Mellon’s Pershing unit, could take a major hit. Pershing served as custodian for First Republic’s wealth management assets, and if JPMorgan moves those assets to its own internal custodian, Pershing could lose up to $85 million in servicing revenue, according to UBS analysts.

In other most-read wealth management articles this week: 

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