Karen Novak replaces John Iachello as COO of clearing firm's RIA
division. Pershing has made long-time staffer Karen Novak COO of
Pershing Advisor Solutions (PAS), the clearing firm's RIA custody
business. She replaces John Iachello, who retired at the end of
Novak is a 20-year veteran of the financial-service industry. She
reports to Mark Tibergien, who became PAS' CEO last summer.
"Karen has built a portfolio of capabilities that uniquely
positions her to meet the responsibilities of this position,"
says Tibergien. "Not only is [she] an accomplished leader and
manager with a proven track record of success, she has a deep
understanding of the RIA customers served by Pershing which adds
depth to our ability to serve wealth managers, money managers and
advisors in transition."
Prior to her latest appointment, Novak was chief operations
manager of PAS and a report to Iachello. In that role she
was responsible for overseeing operations, customer service,
conversions, and branch control for PAS independent advisory
Before she joined Pershing in 1996, Novak held a number of
management positions in prime brokerage sales and operations at
Lehman Brothers and, at Shearson Lehman, in retail branch
Jersey City, N.J.-based Pershing is a subsidiary of Bank of New
York Mellon . -FWR
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