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Ronald Fiske Also to Lead New HybridOneSM Program to Help Meet Needs
Of Firms and Advisors That Conduct Both Commission- and Fee-Based Business
BOSTON, June 5, 2008 -- Fidelity Investments today named Ronald P. Fiske Jr. executive vice president of product development and management for its $340 billion Institutional Wealth Services business, which is a leading provider of trading, custody and brokerage services to Registered Investment Advisors, Trust Institutions and Third Party Administrators.
Fiske, 46, joins Fidelity after more than eight years at Pershing LLC, including the last four as managing director of the company's product management and development group. In that role, Fiske was responsible for all aspects of new product development for Pershing's customer base, including correspondent broker/dealers and registered investment advisors (RIAs). Fiske will report to John W. "Jack" Callahan, president of Fidelity Institutional Wealth Services.
"Ron is an industry leader who has brought innovation and outstanding performance to his product development efforts," said Callahan. "Ron's extensive experience in delivering client-focused solutions further strengthens our organization's ability to offer our clients the technology, products and services they need to drive profitable growth.
"Additionally, Ron's experience in meeting the needs of both RIAs and broker/dealers, will be valuable as he leads our new HybridOneSM program," Callahan added. "Ron will help to ensure that the program's level of product availability, integrated technology and client support will make it easy for firms and advisors to manage the complexities inherent in a hybrid model."
Prior to joining Pershing in 2000, Fiske was senior vice president and director of brokerage for WIT Capital Corporation, where he directed the trading, customer service and operations areas. Fiske began his career in financial services at Bankers Trust, where he was most recently responsible for all securities brokerage activity within the Private Bank.
About Fidelity Institutional Wealth Services
Fidelity Institutional Wealth Services is a leading provider of trading, custody and brokerage services to Registered Investment Advisors, Trust Institutions and Third Party Administrators. The company is able to leverage the capital, resources and expertise of the Fidelity organization, one of the world's largest financial services companies, on behalf of its clients. This includes access to a comprehensive set of products and services, innovative investment tools and research, an integrated brokerage and trust platform, and dedicated client service professionals -- all designed to help its clients thrive by growing their businesses, more effectively meeting customer needs, and enhancing operational efficiency and profitability. Fidelity Institutional Wealth Services custodies more than $350 billion in assets on behalf of over 3,800 clients, as of March 31, 2008. For more information about Fidelity Institutional Wealth Services, please visit http://fiws.fidelity.com.
About Fidelity Investments
Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of more than $3.3 trillion, including managed assets of more than $1.5 trillion as of April 30, 2008. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to 24 million individuals and institutions as well as through 5,500 financial intermediary firms. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, the largest mutual fund supermarket and a leading online brokerage firm. For more information about Fidelity Investments, visit Fidelity.com.
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