Pershing Advisor Solutions appointed Karen Novak as chief operating officer. She replaces John Iachello, who retired at the end of last year.

Novak is in charge of day-to-day management at Pershing, the Jersey City-based provider of services to the financial advisory market. Her duties include overseeing operations, control, administration, compliance, and technology. She will report to CEO Mark Tibergien.

Novak started at Pershing in 1996, and most recently was managing director and chief operations manager responsible for overseeing operations, customer service, conversions, and branch control. Prior to Pershing, she held numerous posts at both Lehman Brothers and Shearson Lehman Brothers.