Mutual fund giant Fidelity Investments has hired former Citigroup senior equities-division executive Robert DiFazio to head up its institutional trading arm, The Wall Street Journal reports.

DeFazio replaces Craig Messinger, who left Fidelity in March amid a management reshuffling at the trading unit, Fidelity Capital Markets, the newspaper said. Following Messinger’s departure, Jim MacGilvray took over as interim president.

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