Fidelity Brokerage Chief Steps Down Temporarily

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Fidelity Investments has named Ellyn McColgan president of its brokerage division, replacing Kevin Kelly, who has taken an indefinite leave of absence from the company to deal with a serious illness in his immediate family.

Kelly had been the president of Fidelity Brokerage Co. since March 2001 and has been with Fidelity since 1995. McColgan previously led Fidelitys intermediary services division.

Vincent Loporchio, a company spokesman, said that it is still too early to tell whether Kelly will return and if he does, in what capacity. However, he did say that the company will try and find a position that will utilize Kellys skills best should he decide to return to the company.