Fidelity names institutional wealth exec

Fidelity Investments of Boston today named Ronald P. Fiske Jr. executive vice president of product development and management for its institutional-wealth-services business.
He arrives at Fidelity following eight years at Jersey City, N.J.-based Pershing LLC, where he served as managing director for the subsidiary of The Bank of New York Mellon Corp.’s product management and development group for the past four years.
The $340 billion division provides trading, custody and brokerage services to registered investment advisers, trust institutions and third-party administrators.
Mr. Fiske’s responsibilities also include leading HybridOne, a program that Fidelity launched this week that will serve advisers who are dually registered and conduct both commission- and fee-based business.
He replaces Gary Gallagher, who has left the firm.
He will report to John “Jack” Callahan, president of Fidelity Institutional Wealth Services.
Fidelity Investments had more than $3.3 trillion in assets under custody, including managed assets of more than $1.5 trillion, as of April 30.

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