Fidelity names former Schwab exec to lead new Institutional Brokerage Platform business

Source: Fidelity Investments

Fidelity Investments® today named Charles G. Goldman, former executive vice president and head of Schwab Institutional, as president of Institutional Platforms for Fidelity Institutional Products Group. Goldman will join the firm in early 2009 and report to Michael K. Clark, president of Fidelity Institutional Products Group.

In this new role, Goldman will be responsible for developing and implementing the strategic plan for Fidelity's Institutional Platform business, which comprises Fidelity Institutional Wealth Services, National Financial and Fidelity Family Office Services. He also will have management responsibility for HybridOne, an offering designed to help firms and advisors manage their commission- and fee-based business, as well as a new international clearing initiative.

"Fidelity Investments has a strong presence with independent advisors, broker/dealers and family offices, and we are anxious to expand on that," said Clark. "Charles' proven leadership and success, combined with his vast experience in providing best-in-class client service, make him ideally suited for this position. Charles will lead a talented management team that together will continue to look for new and innovative ways to leverage our combined strengths and capabilities to position us as the premier provider of technology, products and service in the intermediary space."

"Aligning our platform businesses under the leadership that Charles clearly brings to Fidelity opens even greater growth opportunities for this firm, and aligns perfectly with the aggressive Institutional plans Mike and his team have already begun putting in place," said Fidelity President Rodger A. Lawson.

"I am very excited to be joining Fidelity," said Goldman. "I have always had tremendous respect for Fidelity as a competitor. By looking at our platform businesses holistically, and leveraging the very best of each, I am confident that we can raise the bar in each of the markets in which we compete."

At Schwab, Goldman was executive vice president and head of Schwab Institutional. In that role, he was responsible for developing and implementing an accelerated growth strategy for Schwab Institutional, and for running its day-to-day business operations. Prior to this position, Goldman served as executive vice president of Strategy and Corporate Development, senior vice president of Corporate Development and senior vice president of Venture Capital Investing. He also led numerous strategic initiatives for Schwab, including the company's cost leadership initiative and merger and acquisition efforts.

Before joining Schwab in 2001, Goldman was president and chief operating officer of Paramount Farms, Inc., and Paramount Citrus Association. Paramount Farms is one of the world's largest vertically integrated growers, processors and marketers of pistachios and almonds. Paramount Citrus is the largest citrus grower and packer in the Sunkist cooperative; Goldman was a member of its board of directors.

Previously, Goldman assisted clients in strategic development, operational improvement and organization design at the Los Angeles office of The Boston Consulting Group. Prior to that, Goldman was with Bankers Trust in New York.

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