The head of Fleet Financial Group's investment products business has suddenly left amid an internal probe that is said to center on allegations that some brokers he supervised overcharged customers.

Michael J. Rothmeier, managing director of Fleet Investment Services, resigned Monday, said James Mahoney, a spokesman for the Boston-based banking company. Several sources said he was fired, although Mr. Mahoney disputed that.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.