Penson Worldwide to Sell Australian Operation to BNY Mellon's Pershing Unit for AUD $33M

Penson Worldwide

and BNY Mellon Company

announced today that they have signed a definitive agreement for the acquisition of Penson's Australian subsidiary, Penson Financial Services Australia Pty Ltd (PFSA) in a share purchase transaction for the purchase price of approximately AUD $33 million. PFSA will become an affiliate of Pershing, a BNY Mellon company. Penson will realize a gain of approximately USD $14 million from the sale. The sale is expected to close in the fourth quarter of 2011.