Fidelity hires Schwab exec for wealth unit
Fidelity Investments has hired David Canter, a lawyer who spent more than eight years at competitor Charles Schwab & Co. Inc., for a newly created position as chief operating officer of its investor wealth services unit.
Fidelity Investments has hired David Canter, a lawyer who spent more than eight years at competitor Charles Schwab & Co. Inc., for a newly created position as chief operating officer of its investor wealth services unit.
He joined Fidelity last month and reports to Michael Durbin, president of the unit that provides custody services to registered investment advisers, Fidelity spokesman Stephen Austin confirmed.
“He knows the RIA custody business very well and has extensive compliance, legal, operational and general institutional industry knowledge,” Mr. Austin said.
Mr. Canter, who will oversee client-related functions such as business development, analytics and coordination of compliance and risk management, is an executive vice president and serves with five other senior managers on the wealth services unit’s executive committee.
He left Schwab last year for a position as chief legal and compliance officer at Post Advisory Group, a high-yield-bond manager with 14 employees and more than $8 billion under management, according to its website.
E-mail Jed Horowitz at [email protected].
Learn more about reprints and licensing for this article.
