Mark Tibergien, who retired as head of Pershing Advisor Solutions in March, has resurfaced as a board member at Pathstone, a private equity-backed family office in Englewood, N.J.
“Mark was part of the discussion 11 years ago when Pathstone was just an ‘idea,’ and he gave an instrumental industry keynote address to our leadership team at our January 2017 offsite. With Mark now joining our board, he has come full circle with the firm,” said Allan Zachariah, the co-CEO of Pathstone, in a statement.
Tibergien told WealthManagement.com in March that after he balanced his retirement life in the direction of fun, family and friends, he planned to sit on a few boards to keep himself busy.
The former chief executive is credited with growing Pershing’s RIA custody business from the ground up to $800 billion in assets by the end of 2019. Ben Harrison, Pershing’s head of business development and relationship management, took over Tibergien’s position in June.
Tibergien joins the $20 billion RIA as an independent board member alongside Ron Cordes of the Cordes Foundation, a firm that focuses on impact investing, and the co-founder and former CEO of AssetMark. Zacahriah said both men will be beneficial to the business’s long-term plans.
Pathstone is backed by private equity firm Lovell Minnick Partners, which took a stake in the firm in late 2019 as Fiduciary Network exited. In July, Pathstone acquired Cornerstone Advisors, an RIA with $4 billion, growing its AUA from $15 billion to nearly $20 billion.