Fidelity's institutional services boss exiting

Peter Cieszko, president of Fidelity Investments Institutional Services, is leaving at the end of January “to pursue opportunities outside of the organization,” confirmed Fidelity spokesman Vin Loporchio. Scott Couto, executive vice president and head of investment product management, marketing and investor consulting services, was named interim head while a search begins for a permanent replacement. Gerard McGraw, president of parent Fidelity Institutional, to whom Mr. Cieszko reported, will lead the search, Mr. Loporchio said. Mr. Loporchio had no further information on Mr. Cieszko's plans. Mr. Cieszko couldn't immediately be reached for comment. (Douglas Appel is a senior reporter at Pensions & Investments, a sister publication of InvestmentNews)