JPMorgan Securities Services CEO Joining Fidelity's Institutional Business

Michael K. Clark, former chief executive officer of the worldwide securities services business at JPMorgan, has joined Fidelity as president of Fidelity Institutional Services. He will assume many of the duties previously held by Ellyn McColgan, who resigned in August.

“Mike Clark is an industry leader who brought innovation and outstanding performance to JPMorgan’s securities services business,” said Fidelity President Rodger A. Lawson. “Fidelity’s strong presence with banks, broker/dealers, insurers, registered investment advisors and other intermediaries opens huge growth possibilities for us as we align the businesses that serve these clients under Mike’s leadership.”

Clark joined JPMorgan in 1994. Before that, he held a number of management and product development positions at Bankers Trust.