Jan 27 (Reuters) – BNY has tasked insider Adam Vos to oversee the push to strengthen its wealth and managed accounts offerings, the oldest U.S. bank said on Tuesday.
Vos, who is now the global head of markets and a member of BNY’s executive committee, will become the global head of wealth solutions.
In the new role, he will oversee BNY Pershing’s clearing and custody services— including wealth management platform Wove — and BNY Archer’s managed accounts business, bringing both businesses under a single leader.
In 2024, the New York-based firm bought Archer, a technology-enabled service provider of managed account offerings, to expand its services to asset and wealth managers.
“As the wealth landscape continues to expand and evolve, it’s important that our leadership and structure evolve alongside our clients,” BNY CEO Robin Vince said.
OTHER LEADERSHIP CHANGES
Jim Crowley, a four-decade BNY veteran and the current global head of BNY Pershing, has been elevated to serve as the executive vice chair.
Laide Majiyagbe, who joined the firm in 2021 from Goldman Sachs and is currently BNY’s global head of liquidity, will become the global head of markets, replacing Vos.
In her new role, Majiyagbe will oversee BNY’s foreign exchange, fixed income and equities, liquidity and financing, and execution services businesses.
BNY, earlier this month, beat Wall Street estimates for fourth-quarter profit and lifted its return on tangible common equity target.
The bank was founded in 1784 by Alexander Hamilton, a U.S. founding father further immortalized in a Broadway musical.
(Reporting by Pritam Biswas and Arasu Kannagi Basil in Bengaluru; Editing by Sahal Muhammed)
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