GNA Securities Inc., a leading supplier of brokers to banks, has hired Pershing to clear mutual fund trades.

Seattle-based GNA, which is a subsidiary of General Electric Co., previously cleared trades itself. It wants to expand services by outsourcing the business to Pershing, a division of Donaldson, Lufkin & Jenrette.

"We are now better able to offer the benefits that our bank clients have indicated they want," said Scott Curtis, a vice president of GNA Securities, in a statement.

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