Bob Oros, who leads the RIA business of Fidelity Clearing & Custody Solutions, is set to depart by Jan. 31. He has been in the post for the past five years and plans to pursue "another opportunity," according to a company spokesperson.
Prior to Fidelity, Oros was with the Trust Company of America, LPL Financial and Charles Schwab. At Fidelity, he had about 130 employees that directly reported to him.
"We are grateful for his many contributions and are glad to have the chance to thank him for his service next week" at a large meeting, said Erica Birke of Fidelity's communications team. "Bob told us he had [another] opportunity and is departing on the best of terms."
The business has about 3,000 RIA, broker-dealer and other clients and about $1.7 trillion of client assets under advisement.
Oros began work in his current post in February 2015, when Fidelity Institutional Wealth Services and National Financial merged to form Fidelity Clearing & Custody Solutions. For the three years before that, he was head of sales and relationship management for Fidelity Institutional Wealth Services.
As for a timeframe for Oros' replacement, Fidelity is starting an active search, according to Birke. "We are very fortunate to have strong leadership throughout the organization to make sure that clients' needs are met during such transitions," she said.
Fidelity Clearing & Custody Solutions is led by Sanjiv Mirchandani. In October, the group rolled out WealthscapeDigital Advice Solutions, which includes the Fidelity Automated Managed Platform (AMP), a digital advice program co-developed with eMoney Advisor.