Fidelity Institutional announced Tuesday that Rohit Mahna has been named head of client growth, effective in January. He takes over from Sanjiv Mirchandani, who retired earlier this year.
Mahna will lead the division's client relationship group, which is made up of sales and relationship management teams. He will report to Mike Durbin, Fidelity Institutional's president.
Fidelity Institutional serves about 13,500 clients, including RIAs, broker-dealers, wealth management firms and other institutions, in addition to 22,000 firms that manage employee benefit programs.
This business includes Fidelity Distributors Co., as well as clearing, custody and other brokerage services through National Financial Services or Fidelity Brokerage Services. It had assets under administration of $11.6 trillion, including discretionary assets of $4.4 trillion as of Oct. 31.
"Rohit joins us at a time when the industry is evolving at an increasingly rapid pace," Durbin said in a statement. "He brings to Fidelity a unique set of skills at the intersection of finance and technology and knowledge of that space which will benefit all of our clients."
