March 3, 2020
Mark Tibergien set to retire at the end of May.
JERSEY CITY, N.J., MARCH 3, 2020—BNY Mellon's Pershing ("Pershing") has appointed Benjamin ('Ben') Harrison as the head of its registered investment advisor (RIA) custody business, succeeding Mark Tibergien, effective June 1, 2020. Harrison, currently the head of business development and relationship management for the advisory segment, will report to Jim Crowley, CEO of Pershing, and will become a member of Pershing's Executive Committee.
Tibergien, who has led Pershing's RIA custody business since 2008, will retire from corporate life on May 31, and will work closely with Harrison over the next few months to ensure a smooth transition.
"We are tremendously grateful to Mark for all his contributions," said Crowley. "Mark's unique vision and humble leadership has helped build our advisory business from the ground up and made Pershing one of the top players in the RIA custody space.
"Ben has been a key member of Mark's leadership team since day one and played an important role in building and growing our footprint in the RIA segment. He brings to the role deep knowledge of our business and the industry, strong relationships with our clients, and a dedicated focus on driving growth."
Tibergien led Pershing's efforts to develop a market strategy and an optimal client profile in the RIA market. Under Tibergien's leadership the firm's advisory business experienced significant growth, with RIA assets reaching more than $800 billion at the end of 2019.
Harrison has over two decades of experience, leading business and product development, as well as client relationship management. He joined Pershing in 2006 and was promoted to lead business development for advisory marketplace solutions on the West Coast in 2013. In 2015, Harrison became the head of business development for the RIA custody business. He took on the additional role of relationship management in 2019. He has been serving in his current role since then.
"The growth potential for our advisory business has never been better," said Harrison. "The changes in the RIA custody space are not only reaffirming our long-held strategy of focusing on growth-minded RIAs, but also creating brand new opportunities for us as the only remaining major business-to-business custodian. As we continue to align ourselves ever more closely with the way advisors want to do business, we are excited about the opportunities that lie ahead."
About BNY Mellon's Pershing
BNY Mellon’s Pershing is a leading provider of clearing and custody services. We are uniquely positioned to help complex financial services firms transform their businesses, drive growth, maximize efficiency, and manage risk and regulation.
Wealth management and institutional firms outsource to us for trading and settlement services, investment solutions, bank and brokerage custody, middle and back office support, data insights, and business consulting.
Pershing brings together high-touch service, an open digital platform and the BNY Mellon enterprise to deliver a differentiated experience for every client.
Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. With offices around the world, Pershing has over $2 trillion in assets and millions of investor accounts. Pershing affiliates include Albridge Solutions, Inc. and Lockwood Advisors, Inc., an investment adviser registered in the United States under the Investment Advisers Act of 1940. Additional information is available on pershing.com, or follow us on LinkedIn or Twitter @Pershing.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of June 30, 2021, BNY Mellon had $45.0 trillion in assets under custody and/or administration, and $2.3 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.