Fidelity Investments on Monday named the head of its Canadian subsidiary to lead its drive to market mutual funds through U.S. banks, brokers, and other go-betweens.

Kevin J. Kelly, 42, was named president and chief executive officer of Fidelity Investments Institutional Services Co., a sales unit that houses more than one-fifth of the Boston-based company's $572 billion of assets. The bulk of Fidelity's assets are from direct sales to customers who pick funds without the help of advisers.

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