BNY is rearranging its wealth options management and mixing BNY Pershing, the financial institution’s clearing and custody supplier, with BNY Archer Managed Account Options.
Present BNY International Head of Markets Adam Vos will take the newly-created position of worldwide head of wealth options. In accordance with BNY, Vos will oversee BNY Pershing (together with the agency’s Wove platform), in addition to Archer Managed Account Options, a expertise service supplier for managed accounts that BNY acquired in 2024.
Present head of BNY Pershing, Jim Crowley, will grow to be govt vice chair, one other newly created position. Crowley had led BNY’s RIA custody platform since 2019 earlier than the shift.
Moreover, International Head of Liquidity Laide Majiyagbe will oversee the agency’s work with institutional shoppers as world head of markets, overseeing BNY’s International Trade, Fastened Revenue and Equities, Liquidity and Financing and Execution Companies companies. Her shoppers will embrace asset managers and house owners, banks, dealer/sellers and different monetary establishments.
In an announcement, BNY CEO Robin Vince mentioned every chief introduced “a singular set of abilities” to “absolutely leverage” BNY’s platforms.
“Because the wealth panorama continues to develop and evolve, it’s necessary that our management and construction evolve alongside our shoppers,” Vince mentioned.
As head of wealth options, Vos will oversee Wove, BNY Pershing’s multi-custodial wealth administration program launched in 2023 on the agency’s annual INSITE convention.
Final yr, the agency unveiled new options for its Wove platform, together with an built-in view for traders of their portfolio, data and related instruments on Wove’s NetX investor and wealth reporting platform; a fixed-income portfolio administration improve on Wove Buying and selling for advisors; and a unified administration account software.
In accordance with BNY, Vos started his profession as a dealer with the Financial institution of New Zealand and has greater than 20 years of expertise in world capital markets. He spent greater than 10 years in London as a co-chief working officer for International Fastened Revenue, Currencies and Commodities and as world head of FX Forwards at Deutsche Financial institution.
Vos moved to New York in 2014 as Deutsche Financial institution’s head of International Trade for North America. In 2016, he joined BNY, turning into world head of markets in 2019, earlier than taking up the brand new position.
