Pershing LLC announced that Chief Operating Officer Lisa Dolly will replace Ron DeCicco as CEO, effective Feb. 16, as DeCicco retires from the top spot at Pershing; he will continue to advise Dolly over the next year.

Brian Shea, BNY Mellon (BK) vice chairman and CEO of Investment Services — who preceded DeCicco as CEO at Pershing — said in a statement that Dolly “has been an exemplary chief operating officer” over the past three years and that as CEO, “I am confident that she will lead the company to continued success.”

Dolly, a 25-year Pershing veteran, sits on Pershing’s executive committee and parent BNY Mellon’s operating committee.

It’s not uncommon for top executives at Pershing to have several decades worth of longevity at the firm. That’s the case with DeCicco (who’s been at Pershing for 45 years), Shea and Dolly.

In a 2013 interview, DeCicco and Dolly acknowledged that it’s common practice for Pershing executives to get experience in different divisions within the firm. At the time, they said that the firm also likes to leaven the home-grown talent with key hires from outside the organization, mentioning Mark Tibergien and John Brett.

Lori Hardwick

Lori Hardwick would be the latest high-level example of that management strategy.

Hardwick was named today to serve as Dolly’s successor as COO effective Feb. 29. Hardwick joined Envestnet Inc. (ENV) at its founding 16 years ago and held a variety of positions at the Chicago-based firm, dealing directly with advisors in many of those roles, including training advisors on Envestnet’s platform. She was most recently Envestnet’s group president of advisory services, a position she assumed in December 2014.

In a statement, Dolly said that Hardwick “brings many years of investment, technology and advisory expertise to Pershing and will help us deliver solutions which empower clients and improve the advisor and investor experience.”

Prior to Envestnet, Hardwick was a regional vice president at Nuveen Investments and founded the RIA-centric Nuveen Investment Advisor Services.

In a sidebar to Investment Advisor’s cover story on Envestnet in 2011 (Agents of Change), Hardwick said she met with advisors at least once a month personally. “Our best ideas,” she said then, “always come from our clients; they’ve never steered us wrong.”

Hardwick was named one of the 50 Top Women in Wealth by ThinkAdvisor that same year (view her individual profile).