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Executive Moves


Fidelity Institutional Names Dell'Orfano Head of Sales, Relationship Management

Fidelity Investments has made a number of executive appointments within its institutional division to further strengthen client service, beginning with the promotion of Scott W. Dell'Orfano, executive vice president and head of sales for Fidelity Institutional Wealth Services, to assume the additional responsibility of running that division's relationship management team. Before joining Fidelity in 2004, Dell'Orfano was senior vice president for SEI Investments and a sales representative at Boston Financial Group. He began his career at Keyport Life Insurance in sales and marketing.

Fidelity's clearing firm, National Financial, has appointed 24-year Fidelity veteran Bobbi Masiello as executive vice president of relationship management. In this nearly quarter century, she has held various senior leadership positions in new business development, relationship management and operations. Prior to joining Fidelity in 1986, Masiello worked in the retail brokerage division at Goldman, Sachs, where she was responsible for fixed income trading for high-net-worth clients. She also worked in the institutional trading group at Drexel Burnham Lambert and as a senior vice president at Financial Engines.

As part of Fidelity's ongoing commitment to serve hybrid advisers and brokers that offer both commission and fee-based services, Fidelity has selected Ronald P. Fiske, Jr. to oversee investment product management across National Financial and Fidelity Institutional Wealth Services. Prior to joining Fidelity in 2008, Fiske was managing director of product management and development for Pershing's registered investment advisor and global broker/dealer customer base, senior vice president and director of brokerage for WIT Capital Corp. and responsible for securities brokerage within the private bank at Bankers Trust Co.

"Fidelity has always been focused on delivering an exceptional client experience," said Gerard J. McGraw, president of Fidelity Institutional. "These appointments reinforce our commitment to delivering the superior service, technology and products that our clients need to be successful in an increasingly competitive market."

McPhillips Now Head of Institutional Consultant Relations For Northern Trust

Northern Trust has named David McPhillips director of consultant relations for corporate and institutional asset servicing. He spent the past few years in transition management at the firm, a position that combined trading, analysis and portfolio management skills to handle asset allocation for institutional and high-net-worth clients.

McPhillips began his career at Northern Trust as a regional manager for the investment management liaison group, where he helped investment management firms resolve domestic and international trade issues. Earlier, he held analyst, relationship manager and client service positions at Mellon Financial Corp. and Bank of Ireland Securities Services.

"David's appointment recognizes the consultant community's important role in guiding institutional investors in this increasingly complex financial world," said John Dunham, director of North America asset servicing sales, and McPhillips' new boss. "David's understanding of the intricacies involved across all asset classes will serve him well in building relationships with the consultant community and presenting the full array of our solutions for supporting the world's largest, most sophisticated institutional investors."

McPhillips commented: "Northern Trust recognizes that we share mutual clients with consultants. I am eager to build on the strong working relationship that we have established between custodian and consultant, a relationship that works toward the benefit of our clients."

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