The man who ran Fidelity Investments institutional trading arm has left the company, The Wall Street Journal reports.
Jerry Garvey, the senior vice president of Fidelity Capital Markets Group, left "to pursue other opportunities," according to Fidelity spokeswoman Sarah Friedell. While Friedlell said that Garvey left the company Thursday, Journal sources place Garvey as gone from the company for more than a week.
James MacGilvray, who Garvey reported to, was not available to speak about the move. Since his division uses soft money to service its customers, it looks to be heavily affected by any possible soft dollar legislation.
Friedell, though, was adamant that the move "has nothing to do with the soft dollar decision," The Journal says.