In a surprise move, BNY Mellon Pershing CEO Lisa Dolly will step down as CEO on July 1, when COO Jim Crowley will take over. Dolly will serve as chairwoman of Pershing through Dec. 31 and represent the firm at industry events through year-end.
The news comes about a month before BNY Mellon Pershing hosts its popular Insite conference for advisors in Phoenix and about a week after Dolly was picked as one of Investment Advisor’s 25 industry VIPs of 2019.
“We respect Lisa’s desire to do something different after over 30 years at one firm, and we are grateful to her for her leadership and many contributions,” according to Todd Gibbons, vice chairman and CEO of Clearing, Markets and Client Management.
“A Pershing veteran of more than 35 years, Jim brings to the role unrivaled knowledge of our clients, systems and operations. This is an exciting time for Pershing as the company continues its investment to accelerate growth in the wealth management and financial advisory industry,” Gibbons added.
During his career, Crowley has worked in different fields, including a role on the floor of the New York Stock Exchange before working on marketing and business development. Before being tapped as COO about two years ago, Crowley served as Pershing’s Chief Relationship Officer. He joined the firm as a trainee in 1982.
Dolly began work at Pershing in 1988. She has been in CEO for about three years, after working as COO for about the same length of time.