Fidelity Places Big Bet On Unproven Channel

Fund Giant Looking to Banks

July 13, 2009

Fidelity Investments aims to double its assets under administration in the next five years, and stepped-up sales through banks will be a major contributor, company executives said. Leading the bank sales initiative is Michael K. Clark, president of Fidelity Institutional Products Group, which offers investment products and clearing services to banks, broker/dealers, insurers, registered investment advisors and other financial intermediaries.

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