BOSTON - Fidelity Investments announced today that Thomas Tesauro has been named president of Fidelity Capital Markets, the institutional trading arm of Fidelity Investments, which provides trading, products and services to a wide array of clients, including asset managers and hedge funds, and Fidelity's personal, workplace, and intermediary businesses.
Since January 2015, Tesauro has served as interim leader of the division. He was previously executive vice president and head of the Prime Brokerage and Securities Finance group, where he was responsible for developing, designing and driving the strategic business plans and operations of the prime brokerage and securities lending businesses within Fidelity Capital Markets.
"Tom has been a strong leader during his time with Fidelity, particularly during the past several months, combining his 30-year career in prime brokerage and equity finance with an in-depth knowledge of trading and the markets to deliver exceptional service for our clients," said Gerard McGraw, president of Fidelity Institutional. "His continued focus on the needs of all our customers — from institutional clients to individual investors — will further strengthen Fidelity's focus on service excellence."
Tesauro will continue to report to McGraw, who leads Fidelity Institutional, the division of Fidelity Investments that provides clearing, custody and investment management products to financial intermediaries, such as registered investment advisors (RIAs), broker-dealers, family offices, retirement recordkeepers, banks and hedge funds. As of March 31, 2015, Fidelity Institutional had $1.8 trillion in assets under administration.
Notes to Editors:
- Prior to joining Fidelity in 2009, Thomas Tesauro spent many years as an executive in the prime brokerage and securities lending divisions of Citi and Goldman Sachs.
- Tesauro succeeds Brian Conroy as president of Fidelity Capital Markets. Conroy was appointed President, Financial Services, of Fidelity Worldwide Investment in January 2015.
- Under Tesauro's leadership, the size of FCM's prime brokerage and securities lending business has doubled since 2009.
- In 2012, the Prime Brokerage group introduced PB Optimize, a global securities finance solution providing customers with tools and analytics to manage their aggregated financing activities.
About Fidelity Capital Markets
Fidelity Capital Markets is the institutional trading arm of Fidelity Investments, providing trading products and services to a wide array of clients, including buy-side institutions and hedge funds, as well as to Fidelity’s own businesses. Fidelity Capital Markets offers a suite of electronic brokerage products and execution services across multiple asset classes, including equities, fixed income, options, and FOREX, as well prime brokerage, securities lending, and municipal and bank issued brokered CD underwriting.
About Fidelity Investments
Fidelity's goal is to make financial expertise broadly accessible and effective in helping people live the lives they want. With assets under administration of $5.3 trillion, including managed assets of $2.1 trillion as of May 30, 2015, we focus on meeting the unique needs of a diverse set of customers: helping more than 24 million people invest their own life savings, nearly 20,000 businesses manage employee benefit programs, as well as providing nearly 10,000 advisory firms with technology solutions to invest their own clients' money. Privately held for nearly 70 years, Fidelity employs 41,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.