Durbin joins Cetera as CEO of parent company

The parent company of giant Cetera Financial Group said Wednesday that Fidelity veteran Mike Durbin had joined the firm as CEO of Cetera Holdings.

Adam Antoniades will continue in his role as CEO of Cetera Financial Group and remain on the board of directors. Durbin will also have a seat on the Cetera board.

At Fidelity, Durbin had been president of Fidelity Institutional, the division of Fidelity Investments that works with financial advisors and institutions, providing custody and clearing, third-party product and asset management services. At the end of last year, Fidelity announced that Durbin was stepping down as president of that financial advisor-focused business to a role as a senior adviser.

While at Fidelity, Durbin oversaw the company’s 2015 acquisition of eMoney Advisor.

"We are extremely excited to welcome Mike to the team and look forward to working together to achieve long-term success for Cetera and our advisors,” Antoniades said in a statement.

Cetera Financial Group is a giant network of broker-dealers and RIAs with more than 8,000 financial advisors, $365 billion in assets under administration and $125 billion of assets under management, according to the company’s website.