Adam Vos takes BNY Pershing's RIA custody unit as Wove is withdrawn

BNY Pershing's RIA custody unit is under new leadership, with Adam Vos moving over from Pershing's corporate side and Ainslee Simmonds out, RIABiz reports. The same reporting says Wove, BNY Pershing's advisor platform, has been withdrawn.

The leadership change is not the only one: newsroom tracking dated Oct. 10 logs four more executive changes tied to BNY Pershing. Mark Tibergien exited, Maura Creekmore moved to Broadridge, Ben Harrison moved to parent BNY, and Jim Crowley changed roles while staying at BNY Pershing.

Two of those four end with the person outside BNY, Tibergien by exiting and Creekmore by joining Broadridge; two end with the person still inside the group, Harrison at the parent and Crowley in a new role. Vos, the incoming head, also comes from inside, Pershing's corporate side rather than the RIA channel or the platform.

What the moves suggest is a unit being re-staffed from the center rather than from the channel. Taken with the withdrawal of Wove, the direction of the appointment is the part worth noting: the incoming head is an insider from the corporate side, and the advisor platform that sat alongside the custody business is gone. That is an inference from the personnel and the platform, not a disclosed strategy. The material does not say why Vos was chosen or why Wove was withdrawn.

For an RIA on that platform, the question the moves raise is which set of priorities sets the unit's roadmap. The material establishes the roster — a new head from the corporate side, a withdrawn platform, four more logged changes the same day — and nothing beyond it.