Pershing LLC on Thursday announced that Lisa Dolly, currently the firm’s chief operating officer, will take over as new chief executive, effective February 16, 2016.
Dolly, a 25-year veteran of the company, replaces Ron DeCicco, who is stepping aside from the top role after a 45-year career at Pershing to serve as an “executive advisor” to the company, Pershing said.
DeCicco took over the chief executive role in 2013 from Brian Shea, who is now BNY Mellon vice chairman and CEO of Investment Services.
Dolly will become the first female executive ever to lead Pershing, a major clearing firm and RIA custodian.
She is currently a member of Pershing's executive committee and parent BNY Mellon's operating committee.
In prior posts, Dolly was responsible for the firm's managed account platform and managed global operations, and she served as chief administrative officer overseeing a number of internal and operational functions.