MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, January 27, 2010 Fidelity and Goldman Part Ways One year after joining Ned Johnson's team, Charles Goldman is heading out. A spokesman for Fidelity confirmed that the clearing and custody chief (who led Schwab Institutional before joining the Boston Behemoth) will leave the firm at the end of March. Yet Fidelity is not hunting for a successor. "Charles [Goldman] is leaving to pursue opportunities outside the organization," Fidelity spokesman Vin Loporchio told The MFWire, adding that the three presidents who reported to Goldman now report directly to Fidelity Institutional chief Gerald McGraw, effective immediately. "He won't be replaced." Those three chiefs are: Mike Durbin, president of Institutional Wealth Services (Fidelity's RIA platform, which boasted $392.7 billion in assets on December 31, a 35 percent increase for the year); Sanjiv Michandani, president of National Financial (Fidelity's clearing platform, which had $550 billion in assets on December 31, up 8.7 percent year-over-year); and Ed Orazem, president of Family Office Services (which ended 2009 with over 100 clients). Printed from: MFWire.com/story.asp?s=24016 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |