Abigail Johnson Becomes President of Fidelity Financial Services
Fidelity Investments has announced that Abigail P. Johnson has advanced to the post of president of Fidelity Financial Services, which will put Fidelity’s core financial businesses under a single operational leader.
Johnson will oversee asset management, retail and institutional brokerage, retirement and benefits services and corporate operations and function support groups, officials say. Her new role will require Johnson to continue reporting to her father Edward C. Johnson 3d, Fidelity chairman and CEO.
Most recently, Johnson held the post of president of the personal, workplace and institutional services organization, which includes the retail and institutional brokerage divisions and the retirement and benefits services. In that role, she worked with Ronald P. O’Hanley, president of asset management and corporate services; O’Hanley will continue to oversee those groups and report to Johnson. The heads of Fidelity’s brokerage and mutual fund distribution businesses will also still report to Johnson in her new capacity.
Johnson also is vice chairman and director of FMR, the holding company for the businesses of Fidelity Investments, and chairman of the board of trustees for the fixed-income/asset allocation funds.
DTCC Hires from Deutsche Bank for Top Administrative Post
Donna M. Milrod,
CAO,
DTCC
Starting in mid-October, the Depository Trust & Clearing Corp. (DTCC) will fill its new position of chief administrative officer (CAO) with Donna M. Milrod, who will have responsibility for the DTCC’s finance, operations, regulatory relations, business continuity, vendor management and security functions, officials say.
Milrod will be leaving her role as deputy CEO of Deutsche Bank North America, a post she has held since 2009. She will report to president and CEO Michael Bodson and serve as a member of the DTCC’s management committee.
The DTCC “is uniquely positioned as a primary infrastructure during this period of unprecedented regulatory and financial market change,” says Milrod in a prepared statement.
At Deutsche Bank, Milrod also served as head of the bank’s regional oversight and strategy group. She also held several other senior positions at Deutsche, including as assistant treasurer of the Americas. She also worked at Bankers Trust, which was acquired by Deutsche Bank, as a senior member of the treasury/funding group within the trading and sales division.
Credit Suisse Vet Joins R.J. O’Brien’s Brokerage Ops Unit
Lawrence Latimer,
senior VP, institutional brokerage,
RJO
Futures broker and clearing firm R.J. O’Brien & Associates (RJO) has hired Lawrence Latimer from Credit Suisse to help expand its institutional brokerage footprint, citing Latimer’s track record in growing institutional business lines, officials say.
Latimer, who is RJO’s senior vice president, institutional brokerage, is a 25-year veteran in institutional futures and options brokerage, according to officials. His most recent stint was 13 years at Credit Suisse where he was a director, overseeing the firm’s Chicago-based futures and options sales group for institutional accounts globally.
In a prepared statement, Gerald Corcoran, RJO chairman and CEO, says that Latimer’s “track record serving hedge funds, banks, real money accounts and other institutional clients across the globe, and his knowledge, experience and contacts will be invaluable as we seek to expand this business.”
Latimer has previously held positions as an executive vice president with LFG from 1997 to 1999, managing all sales and trading. He also worked for a decade at HSBC Futures, where he was vice president, managing the bank’s institutional and proprietary bond and options trading at the Chicago Board of Trade. He launched his career as a vice president for Merrill Lynch, overseeing large customer and house accounts in the OEX pit at the Chicago Board Options Exchange.
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