Pershing’s RIA custody head to retire after decade in the role

New head of Pershing’s registered investment advisor custody business announced as long-serving executive confirms retirement.

By Jonathan Watkins

BNY Mellon’s Pershing has appointed Benjamin Harrison as the head of its registered investment advisor (RIA) custody business, succeeding Mark Tibergien who will retire at the end of May.

Tibergien has held the role since 2009 and grew the division’s RIA assets to more than $800 billion at the end of 2019.

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.

Pershing said Harrison and Tibergien will work closely 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.”

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 then 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.”