Fidelity Names New Head of RIA, Institutional Business

Fidelity says Mike Durbin has passed the baton as head of Fidelity Institutional to Vadim Zlotnikov as part of other changes at the fund giant. As of mid-November, Durbin has been in a senior advisor role at the firm but continues to work with wealth management and institutional clients, according to the firm.

“We are aligning Fidelity’s clearing and custody sales, relationship management, service and operations teams with our brokerage operations and technology team,” Fidelity said in a statement Tuesday. 

Durbin led Fidelity Institutional for the past five years. He joined Fidelity in 2009, after nearly 19 years at Morgan Stanley. 

Zlotnikov was president of Fidelity Asset Management Solutions for the past two years and nine months, after coming on board Fidelity in mid-2018. Earlier, he was with AllianceBernstein for over a decade. 

“To strengthen our commitment to wealth management and institutional clients of all sizes, we realigned the Fidelity Institutional business to bring dedicated focus to our clients’ evolving and growing needs in two key areas: institutional investment management solutions, and advisor services and technology,” the firm explained.