Fidelity Taps Henderson as Clearing Canada Chief Exec

Fidelity Investments has hired William J. Henderson as chief executive officer of Fidelity Clearing Canada, reporting to National Financial President Sanjiv Mirchandani.

A 38-year veteran of the Canadian broker/dealer industry, including five years at Fidelity Investments Canada between 2002 and 2007, Henderson rejoins Fidelity from Market Logics, a strategic planning and consulting firm, where he was executive vice president and operations specialist. Henderson has also worked at TD Waterhouse and Merrill Lynch.

Fidelity has also established new correspondent clearing relationships with three Canadian broker/dealers, Independent Trading Group, Global Maxfin Investments and Octagon Capital Corp. Since its founding only eight months ago, Fidelity Clearing Canada has established a total of five client relationships.

Henderson succeeds Richard Ness, who has been interim CEO since Fidelity launched the business last September, and who will continue to work with Henderson to help the company grow.

DTCC Elects Five Trustees

The Depository Trust & Clearing Corp. has elected five new members to its board of directors, including for the first time three non-participant directors who are not affiliated with firms that use DTCC services.

They include Christopher Concannon, partner and executive vice president of Virtu Financail LLC; Lori Hricik, former CEO and head of JP Morgan Treasury Services; John C. Parker, executive vice president of Wells Fargo Advisors and president of its business services group; Derek A. Ross, former partner at Deloitte U.K.; and Gary H. Stern, former president and CEO of the Federal Reserve Bank of Minneapolis.

Concannon and Parker and the two new participant directors, joining 11 other representatives of DTCC's shareholder participants on the board, which also includes two DTCC management members and two representatives of DTCC's preferred shareholders, NYSE Euronext and the Financial Industry Regulatory Authority.

DTCC decided to include non-participant companies to bring added expertise and perspective on a broad range of issues, including systemic risk and best practices in corporate governance.

"We are very pleased to have such an impressive range of talent and expertise joining DTCC's board at this critical point in time, when the industry is coming out of recession and there is a renewed focus by regulators on systemic risk management and greater transparency," said Donald F. Donahue, chairman and CEO of DTCC.

Kline Joins Deutsche Bank To Head Hedge Fund Unit

Doug Kline has joined Deustche Bank's global prime finance business as managing director and head of hedge fund consulting. Based in New York, Kline reports to Pam Kiernan, managing director and global head of business development, and Scott Carter, managing director and head of global prime finance sales and capital introduction, North America.

Kline hails from Viking Global Investors, where he was a partner and chief information officer.

Kline will work with John Budzyna, a senior strategic adviser since 2007 who spent the prior 30 years managing hedge fund practices at two leading public accounting firms, and as president of a hedge fund administration firm.

(c) Copyright 2010 Money Management Executive and SourceMedia Inc. All rights reserved.

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