Karen Novak has been appointed chief operating officer of Pershing Advisor Solutions, reporting to Mark Tibergien, CEO of Pershing Advisor Solutions.
Novak is responsible for the day-to-day management of Pershing Advisor Solutions and will oversee operations, control, administration, compliance, and technology. Novak’s appointment fills the COO role that John Iachello held prior to his retirement from Pershing Advisor Solutions at the end of last year.
Novak has more than 20 years of financial services experience. She has been with Pershing for 12 years – most recently a managing director and chief operations manager for Pershing Advisor Solutions, where she was responsible for overseeing operations, customer service, conversions, and branch control. She has been a key component of Pershing Advisor Solutions’ management team.
During her tenure she has gained intimate knowledge and insight into the individual characteristics, business models, fee structures, technological requirements and support levels that independent registered investment advisors need to grow their practices and achieve continued success.
Before joining Pershing, Novak held a number of management positions at Lehman Brothers, Inc. in prime brokerage sales and operations, and helped to market the firm’s prime services capabilities. She began her career with Shearson Lehman Brothers where she spent nine years, initially as a branch operations manager, before holding senior-level positions in operations and custody processing in support of the firm’s institutional client base.
“With over 20 years of experience in the financial services industry, Karen has built a portfolio of capabilities that uniquely positions her to meet the responsibilities of this position. Not only is Karen 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,” says Tibergien.