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 and its affiliates provide advisors, broker-dealers, family offices, hedge fund and ’40 Act fund managers, registered investment advisor firms and wealth managers with a broad suite of global financial business solutions. Many of the world’s most sophisticated and successful financial services firms rely on Pershing for clearing and custody, investment and retirement solutions, technology, enterprise data management, trading services, prime brokerage, managed account technology and operations and business consulting. Pershing helps clients improve profitability and drive growth, create capacity and efficiency, attract and retain talent, and manage risk and regulation. With a network of offices worldwide, Pershing provides business-to-business solutions to clients representing more than seven million investor accounts globally. Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. Professionally advised managed accounts are offered through its affiliate, Lockwood Advisors, Inc., which is 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 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 management and investment services in 35 countries. As of Dec. 31, 2019, BNY Mellon had $37.1 trillion in assets under custody and/or administration, and $1.9 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.