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BNY Mellon’s Pershing Launches New Business Unit, Pershing XSM, to be led by Ainslie Simmonds

JERSEY CITY, N.J.— BNY Mellon’s Pershing (“Pershing”) has appointed Ainslie Simmonds as President of Pershing X, a new business unit within Pershing that will design and build innovative solutions for the advisory industry. The new unit will accelerate Pershing's delivery of consumer grade digital experiences to its clients, as well as the broader marketplace.

Pershing X is an extension of the Client Experience Reimagined initiative that Pershing announced in April 2021. The new unit will incubate, engineer, and deliver a comprehensive, all-in-one set of advisory capabilities to Pershing’s Wealth Solutions clients, including broker dealers, registered investment advisors (RIAs), and trust companies.

“Pershing X will deliver the industry’s leading end-to-end advisory platform, helping financial services firms solve the challenge of managing multiple and disconnected technology tools and data sets for their advisors and fueling our clients’ business growth,” said Jim Crowley, Pershing CEO.

The Pershing X platform is set to transform the advisory marketplace by helping firms attract new clients, better serve existing clients, and ultimately grow assets under management. Clients using Pershing X’s solutions will also benefit from access to enterprise offerings provided by BNY Mellon Wealth Management and Investment Management.

“We’re thrilled that Ainslie Simmonds will be leading Pershing X. Ainslie has been a transformative leader in the advisory space for 20 years and we are excited to leverage her leadership, insights, and experience in leading digital and innovation initiatives,” said Robin Vince, Vice Chairman and Head of Global Market Infrastructure at BNY Mellon.

“Based on her deep understanding of the advisory landscape and digital tools, we feel certain that Ainslie is best-positioned to lead Pershing X,” added Crowley.

As President of Pershing X, Simmonds will join Pershing’s Executive Committee. Simmonds brings two decades of experience in wealth management and digital to her new role. She was instrumental in launching several fintech firms, including financial planning company LearnVest and brokerage and trading software firm thinkorswim. Most recently, she was Executive Vice President at PIMCO Investments where she was Global Head of Digital. Prior to PIMCO, she was Executive Officer and Head of Digital Products and Design at Northwestern Mutual.

"I'm delighted to be joining BNY Mellon to lead Pershing X. Even with the explosion of fintech solutions in the past 10 years, advisors still have to piece together a platform to serve their clients,” said Simmonds. “I am so looking forward to delivering a comprehensive platform, backed by the expertise and experience of Pershing, that will enable advisors to focus on what they do best— deliver real value to the millions of investors that turn to them for financial advice and peace of mind."

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BNY Mellon’s Pershing
Liz Ozaist
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