Tibergien moves to Pershing

In a marketing and business coup, Pershing LLC has hired Mark Tibergien, a leading consultant in the financial advice industry. Mr. Tibergien will assume the post of chief executive of Pershing Advisor Solutions, crossing the street from Moss Adams LLP of Seattle where he was the partner in charge of the business consulting and business valuation groups, as well as chairman of the financial services group. Mr. Tibergien, who will serve on Jersey City, N.J.-based Pershing’s executive committee, has worked closely with hundreds of registered investment advisers, broker-dealers, money managers, insurance companies and other financial service companies throughout his 34-year career. Mr. Tibergien aims to grow Pershing’s advisory business by recruiting executive talent and adding more clients. “We want to grow it, no doubt about it,” he said. “This is clearly an organization that allows for an entrepreneurial spirit, and it’s willing to innovate.” Pershing’s RIA business has $73 billion in assets under administration. Mr. Tibergien said his first step at Pershing, which he joins on Oct. 1, will be take stock of the organization. “There’s been good growth under its current leadership,” he said, noting that the advisory group has about 140 employees, up from 40 three years ago. He said that his priorities will be to focus on the firm’s “client-centric orientation, meet with clients, and meet with people we’d like to have as clients.” Pershing is the largest clearing firm, with 870 broker-dealer clients. In 2005, Pershing changed the name of the business group that focuses on advisers from Pershing Investment Manager Services to Pershing Advisor Solutions.