BNY Mellon’s Pershing names new head of RIA custody business
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BNY Mellon’s Pershing names new head of RIA custody business 06 March 2020New Jersey Reporter: Maddie Saghir
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BNY Mellon’s Pershing has appointed Ben Harrison as the new head of its registered investment advisor (RIA) custody business, succeeding Mark Tibergien, effective 1 June.
Tibergien who has led Pershing's RIA custody business since 2008, will retire from corporate life on 31 May.
Harrison currently serves as head of business development and relationship management for the advisory segment.
Both Tibergien and Harrison will work closely over the next few months to ensure a smooth transition, according to Pershing.
As of 1 June, Harrison will report to Jim Crowley, CEO of Pershing, and will become a member of the firm’s executive committee.
Crowley commented: “We are tremendously grateful to Mark Tibergien for all his contributions. Tibergien'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.”
Elsewhere, BNY Mellon’s Pershing has also revealed that RIA’s on its custody platform will now be able to choose from monthly subscription and zero-transaction-fee pricing.
The three pricing packages include subscription-based pricing, zero-transaction fee pricing and variable pricing.
Commenting on the new subscription pricing, Crowley said: "Our new pricing approach offers the choice to align with client preferences and deliver greater value."
Harrison added: "Our new pricing strategy is designed for advisors, in consultation with advisors, taking into consideration some of the long-term trends we see in the industry.”
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