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What about the 49ers, Palo Alto experiment and China led a $2.7 billion RIA to sell out, brand and all, to BNY Mellon

BNY Mellon ends up buying RIA -- and paying an extraction fee to Schwab -- after building nearby Palo Alto 6,800-square-ft. branch

Wednesday, February 10, 2016 – 7:40 PM by Sanders Wommack
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Perry Olson extracted Atherton from Portola, built it up, and, nine years later, is now selling it to BNY Mellon.

Related Moves

In RIA custody milieu, Charlie Scharf's BNY Mellon exit for Wells Fargo is latest unforeseen vapor trail after Lisa Dolly, Tim Hockey, Terri Kallsen, Andy Gill and others fade into the firmament

The CEO-for-rent will face a monumental challenge turning around Wells Fargo, but perhaps not as bleak a landscape for profit margins; Is the RIA free ride coming to an end?

October 1, 2019 – 1:06 AM

BNY Mellon's new CEO is an RIA fan, and Pershing Advisor Solutions made a big personnel move to reflect it

Charles Scharf loosened the Pershing purse strings for Mark Tibergien who created 'head of platforms' position for Christina Townsend

March 12, 2019 – 10:14 PM

BNY Mellon goes on a wild poaching bender as it sets sights on playing a very 2019 game of digital catch-up

Building on Bridget Engle's appointment last year, the New York superbank completes three-hire talent binge, with a money-no-object eye to boosting wealth management

October 18, 2018 – 7:28 PM


Mentioned in this article:

Advisor Growth Strategies, LLC
Consulting Firm
Top Executive: John Furey

Pershing Advisor Solutions
Asset Custodian
Top Executive: Mark Tibergien

Park Sutton Advisors, LLC
Mergers and Acquisition Firm
Top Executive: Steven Levitt




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