Bank of New York subsidiary Pershing says Paul Wichman has joined the firm as a Managing Director. Wichman will be responsible for new business development within Pershing Investment Manager Services, working directly with the group’s senior executive, John Iachello. Pershing Investment Manager Services provides financial services outsourcing solutions to more than 200 independent investment advisors and financial organizations.
In joining the firm, Wichman will relocate to Pershing’s New Jersey headquarters. Previously, Wichman was a senior division sales manager at Charles Schwab Institutional, based in San Francisco. During his 12-year tenure there, he helped lead the development and execution of the company’s sales strategy for its Western division. Wichman also led sales initiatives for the organization’s Northwest and Gulf regions, as well as its Strategic Accounts Group.
“Paul brings to Pershing a demonstrated track record of success in managing and executing new business development strategies within the investment advisor market segment,” says Richard F. Brueckner, chief executive officer, Pershing. “The demand for independent investment advisor services is expected to grow significantly over the next several years. As a member of our senior management team, Paul will have key leadership responsibilities for helping Pershing and our customers deliver high-quality services and solutions that meet the complex needs of this growing market.”
Pershing provides outsourcing solutions to 1,100 institutional and retail financial organizations and independent investment advisors who act on behalf of 6 million individual investors. The firm has 22 offices around the world.