“As is the case with many new initiatives, we felt it was important to create a separate, dedicated division for this effort, to allow the team to focus exclusively on the design, creation and implementation of a comprehensive wealth offering that would best meet our clients’ needs,” he said in a statement. “That focus enabled us to hire the industry’s best talent, expand our investment and planning capabilities, and develop a strategic business plan that we are confident positions us for success.
“What began as a small wealth management pilot offering in a few select regions of the U.S. has today grown into a fully operational offering serving a number of affluent clients,” Banker said.
Because of “the success and maturity of this initiative,” the timing was right for realignment, which is why Lamere left “to pursue other opportunities,” he said.
“Dave joined Fidelity in 2012 specifically to get this new initiative up-and-running, and we thank him for his leadership during this important period of growth,” Banker said. “Roger Hobby, executive vice president, now leads Wealth Management, which is part of our personal investing division.”
Hobby was previously the president of Wilmington Trust’s Northeast division. He had served as president of Fidelity’s Family Office Services division before joining Wilmington Trust.