BNY Mellon completes purchase of Optimal Asset Management

Bank of New York Mellon Corp. completed its acquisition of Optimal Asset Management Inc., a direct indexing solutions provider, on Dec. 23, 2021, according to its Form 10-K filing.

BNY Mellon subsidiary Pershing LLC agreed to purchase Optimal earlier in December 2021 and announced that it will add the acquired company into its advisory industry solutions business unit, Pershing X.