BNY Mellon's Pershing (Pershing) has appointed Ainslie Simmonds as president of Pershing XSM, a new business unit within Pershing that will design and build 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.
Based in New York, Simmonds will join Pershing's executive committee. Simmonds brings two decades of experience in wealth management and digital to her new role.
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, an American financial services company based in Milwaukee.
Pershing XSM is an extension of the Client Experience Reimagined initiative that Pershing announced in April 2021.
The new unit will incubate, engineer, and deliver a set of advisory capabilities to Pershing's wealth solutions clients, including broker-dealers, registered investment advisors, as well as trust companies.
The Pershing X platform will help firms attract new clients, better serve existing clients, and ultimately grow assets under management while also allowing them to benefit from access to enterprise offerings provided by BNY Mellon wealth management and investment management.
Jim Crowley, Pershing CEO says: "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.”
Commenting on her new role, Simmonds says: "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. I am so looking forward to delivering a comprehensive platform, backed by the expertise and experience of Pershing.”
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