Fidelity Investments has reorganized its institutional equity team, naming Michael S. Cashel, senior vice president, equities, and chief of institutional sales trading. Michael J. McConnell is senior vice president, head of sales trading for institutional equities.
Cashel now reports to Mark Haggety, president of Fidelity Capital Markets, who commented, Mikes appointment reflects our ongoing commitment towards building our capital markets business and providing institutional, intermediary and retail clients access to the people and trading solutions they need to help them achieve their trading objectives.
With more than 20 years of equity trading experience, Cashel joins Fidelity from Bear Stearns, where he was senior managing director and head of sales and marketing for electronic trading products. McConnell himself has 25 years of experience in the equities market and comes to the firm from Bank of America Securities, where he was managing director and co-head of institutional equity sales trading.
In addition, Fidelity has hired eight additional equity trading professionals.