Peter Cieszko, president of Fidelity Investments Institutional Services, the distribution arm of Fidelity, is leaving at the end of the year to “pursue other opportunities,” Vin Loporchio, a company spokesman said.
He will be replaced by Scott Couto, an executive vice president who reported to Cieszko, as interim head of the division. Fidelity is actively seeking a replacement for Cieszko.
Cieszko is leaving Fidelity after just under two years. He joined in January 2009 from Evergreen Investments, where plans to name him chief executive officer were stalled when Wells Fargo acquired Evergreen’s parent company Wachovia.