Pershing llc named Mark Tibergien as CEO of Pershing Advisor Solutions (PAS) on September 6, and as a member of Pershing’s executive committee. Tibergien, currently a principal and partner in charge of the securities niche at the accounting and consulting firm Moss Adams in Seattle and a long-time Investment Advisor columnist, will take on his new duties at the Bank of New York Mellon subsidiary on October 1.
In his new position, Tibergien will report to Pershing Chairman and CEO Richard Brueckner and President and COO Brian Shea.
Tibergien will continue to write for Investment Advisor, and serve as the keynote speaker at the Investment Advisor Moss Adams Advisor Summit in Washington on November 27-28.
With Tibergien having practiced what he preached when it comes to succession planning, Rebecca Pomering will now lead the firm’s business consulting group, announced Moss Adams’s chairman, Rick Anderson, on September 14, “supported in this leadership by two other partners, Philip Palaveev and Cathy Gibson.” Both Pomering and Palaveev will speak at the Advisor Summit as well. Anderson said “Palaveev and others will continue to drive the industry research and benchmarking studies” of advisors and broker/dealers (see the cover story on page 36 of the most recent Moss Adams Study). At a press conference in Seattle on September 9, SEI’s Mark Alexander said his firm will continue to sponsor the annual Study, now in its ninth year.
PAS has made great strides in the RIA custody business over the past three years through the leadership in particular of John Iachello, the PAS COO who will now report to Tibergien. In an interview, Tibergien noted that PAS now has 140 people, and “we’re looking to grow all positions,” and since Pershing operates “more like a partnership than a hierarchy,” that the culture will be similar to Moss Adams’s. Noting the “healthy competition” in custodying advisor assets, Tibergien said “we must create such a superior customer service model that it will make a difference” in advisors’ business lives.