PORTLAND, Maine--(BUSINESS WIRE)--Foreside and BNY Mellon announced today that they have successfully completed the sale of BNY Mellon’s fund distribution business (BNY Mellon Distributors and its four subsidiaries, including MGI Distributors, Fairholme Distributors, HighMark Distributors and Sterling Distributors) to Foreside Financial Group, LLC. The transaction closed on March 31, 2012.
Effective April 1, 2012, BNY Mellon Distributors was renamed Foreside Funds Distributors LLC. Foreside has opened a new office, located at: 400 Berwyn Park, 899 Cassatt Rd., Berwyn, PA 19312. BNY Mellon Distributors’ eleven employees joined Foreside and are servicing clients out of the Berwyn, PA office.
About Foreside
Foreside delivers a range of distribution and regulatory compliance services to clients in the investment management industry, including investment advisers of registered and unregistered pooled products. Foreside serves as sponsors of open-end, closed-end, exchange-traded and alternative investment products, including commodity pools, with regulatory compliance, Sarbanes-Oxley, registered representative, and active and statutory distribution services. Currently, Foreside distributes over $450 billion of product through our established broker-dealers, all FINRA member firms. Our solutions allow Foreside’s clients to focus on asset management without sacrificing distribution and compliance best practices. Foreside is headquartered in Portland, Maine and has offices in Boston, Massachusetts, Chicago, Illinois, Columbus, Ohio and Berwyn, Pennsylvania.