Fidelity has hired David Lamere from BNY Mellon as president of the newly-formed Fidelity Private Wealth Management, reports Financial Planning.
In his new role, Lamere will report to Ronald O’Hanley, president of Asset Management and Corporate Services, who he also worked closely with at BNY Mellon. O’Hanley joined Fidelity in 2010, after a 13 year career at BNY Mellon, most recently as head of the bank’s asset management division.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Fidelity Private Wealth Management will build out investment management, asset allocation, and trust products and services for high net-worth clients.
The new business will also work with Fidelity’s Institutional Wealth Services division on the "continued expansion and enhancement" of the Wealth Advisor Solutions referral program, Cathie said, which refers Fidelity customers to qualified independent RIA clients of Fidelity. There are about 100 firms participating in the referral program
Jeffrey Cathie, a Fidelity spokesperson said: "He is still in the process of developing the new group’s business plan and organizational structure; it would be premature to discuss details at this time."
Fidelity will need to sort out how they want to position the group.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
