Sanjiv Mirchandani, a 15-year Fidelity Investments veteran, has been named president of National Financial, a provider of clearing, custody and brokerage solutions to more than 300 broker/dealer firms. Mirchandani succeeds Norman Malo, who retired earlier this year, and will report to Charles G. Goldman, president of Institutional Platforms, Fidelity Investments.
"I have been leading various aspects of Fidelity's retail brokerage operations for a number of years, experience that has provided me with a strong understanding of investor behavior, brokerage delivery models, managed accounts and trading platforms," said Mirchandani in a press release. "Additionally, given that National Financial provides clearing services for our retail business, I have a true customer perspective as I look ahead to this opportunity -- insight that will be important as we work with our clients to help them navigate a fluid market environment and better position their companies for growth."
Before this appointment, Mirchandani was president of products and marketing for Fidelity's Personal and Workplace Investing business. Prior to that role he was executive vice president of Brokerage and Asset Management Products within Fidelity's personal investments business. He has also served as general manager for Fidelity's retail retirement business, which includes contributory IRAs, Rollover IRAs, self-employment plans and pre-retiree services. Mirchandani joined Fidelity in 1994, after spending six years at the American Express Company and working for Citibank's consumer bank division.