Peter Sheehan

Managing Director, Business Development

I enjoy building relationships and becoming a trusted partner to help firms, senior executives and advisors navigate a challenging landscape, compete and succeed.

Peter brings over 30 years of experience in the financial services industry to his Business Development role. Prior to joining Oyster, Peter served as Senior Vice President, Business Development Officer at First Clearing, where he was responsible for external asset growth through adding new broker-dealer and RIA firms as well as assisting client firms with their growth plans through recruiting and M&A efforts. Peter also served as Vice President, Pershing, where he worked in business development and relationship management roles after they acquired the correspondent clearing broker-dealer business of DB Alex. Brown, a self clearing firm which moved to fully disclosed, where he also held similar roles as Vice President in Prime Brokerage and Correspondent Clearing Services. He began his career with a regional firm, Legg Mason, serving in operations, product and services, new product development and business development capacities.


  • Serves as Business Development Officer for Oyster Consulting
  • Sales, new business development and relationship management roles for major clearing organizations
  • Self clearing regional and fully disclosed independent broker-dealer firms including W2, 1099 and bank models
  • Custody and clearing firm contracts and platform evaluations for independent broker-dealers
  • RIA firms’ custody and clearing evaluations including for hybrids
  • Start-up considerations and custody evaluations for breakaway advisors
  • Technology, trading and operations platforms
  • New product development and vendor selection
  • Firm transitions and on-boarding processes
  • Strategic planning, M&A and growth assistance

Career Highlights

  • Senior Vice President, Business Development Officer – First Clearing
  • Vice President, Business Development and Relationship Management – Pershing
  • Vice President, Correspondent Clearing Business Development and Prime Brokerage Services – DB Alex. Brown
  • Associate – Operations, Products & Services, New Product Development, Correspondent Clearing Business Development – Legg Mason