Fidelity says it has restructured its operations, with Mike Durbin stepping out of his leadership post at Fidelity Institutional to serve as a senior advisor while continuing to work with wealth management and institutional clients.
The business unit now has two parts: one focused on advisor services and technology, being led by Ron DePoalo, and the other focused on institutional investment management solutions, headed by Vadim Zlotnikov.
"To strengthen our commitment to wealth management and institutional clients of all sizes, we realigned the Fidelity Institutional business to bring dedicated focus to our clients' evolving and growing needs in two key areas … ," the firm explained in a statement shared with ThinkAdvisor Tuesday.
Durbin led Fidelity Institutional for the past five years. He joined Fidelity in 2009, after nearly 19 years at Morgan Stanley.
