JERSEY CITY, N.J., October 26, 2011 — Pershing LLC, a BNY Mellon company, today announced that its prime brokerage unit was named 'Best Prime Broker— Custodial Solution' for the second year in a row at HFMWeek's US Hedge Fund Services Awards ceremony in New York.

The winner of HFMWeek's Custodial Solution award was voted upon by a panel of independent judges, made up of industry experts who singled out Pershing based on a range of criteria, including revenue growth, innovation, and customer satisfaction. With managers increasingly dependent on sourcing strong custodial services, the Pershing platform was deemed secure and the best in this class. The judges described it as, "solid and highly focused on the customer."

"We are pleased and honored to be recognized by industry executives for our commitment to delivering scalable support and integrated solutions to businesses at every stage of growth," said Gerry Tamburro, managing director of Pershing Prime Services. "Our new prime model approach, which is built on transparency, exceptional counterparty strength and conflict-free global solutions, continues to attract new clients and a greater level of recognition from across the industry."

The HFMWeek recognition marks the second award Pershing Prime Services has received in the past four months. In a June 2011 ceremony, Pershing Prime Services was named Best Prime Broker at Hedgeweek's U.S. awards for excellence among hedge fund managers and service providers.

Pershing Prime Services delivers an unconflicted, comprehensive suite of global prime brokerage solutions. This includes extensive access to securities lending, dedicated client service, robust technology and reporting tools, worldwide execution and order management capabilities, a broad array of cash management products and the integrated platform of BNY Mellon. Pershing Prime Services is a service of Pershing LLC. Additional information is available at www.pershingprimeservices.com.

Pershing LLC (member FINRA/NYSE/SIPC) is a leading global provider of financial business solutions to more than 1,500 institutional and retail financial organizations and independent registered investment advisors who collectively represent more than five million active investors. Located in 21 offices worldwide, Pershing and its affiliates are committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing 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 BNY Mellon company. Additional information is available at www.pershing.com.

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.9 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com and through Twitter@bnymellon.