Ainslee Simmonds is out at BNY Pershing's RIA custody unit; Wove withdrawn

RIABiz reported that Ainslee Simmonds is out at BNY Pershing's RIA custody unit and that Wove, the platform associated with her, has been withdrawn.

A successor platform has yet to be assigned a name, according to the report, which describes Pershing as the No. 3 RIA custodian.

Adam Vos now heads the unit as BNY's Global Head of Wealth Solutions, overseeing Pershing's clearing and custody services alongside the managed accounts business, RIABiz reported.

He came from Pershing's corporate side and has a corporate trading background.

RIABiz describes him as a New Zealander and reports that RIAs don't know him.

BNY Pershing CEO Jim Crowley moved into the newly created role of Executive Vice Chair in January and no longer has a role in day-to-day operations, RIABiz reported.

Crowley held the CEO title from 2019 to 2026.

The changes are part of an executive restructuring that moved Ben Harrison, a former CEO, into a new role as Global Head of Client Coverage, per the report.

The RIA custody unit is now on its third or fourth head since long-time CEO Mark Tibergien departed, according to RIABiz.

Asked what RIAs should make of Pershing headed into 2027, a spokeswoman kept it general: "BNY is focused on building a more connected, flexible set of capabilities for advisors and investors. We are well positioned to advance innovations that support a comprehensive wealth ecosystem and strengthen our role as a long-term wealth solutions provider for clients."