The top job at Fleet Financial Group's brokerage and money management unit is being carved into two, a spokesman said.
Instead of hiring a managing director to fill a vacancy at Fleet Investment Services, the Boston-based company will hire one executive to head the retail mutual fund business and another to oversee retirement plans.
The decision was reached in recent months as Fleet searched to replace Michael Rothmeier, who left in May, said the spokesman, James Mahoney. Mr. Rothmeier resigned amid an internal investigation of allegations that the unit's brokers overcharged customers.
Titles for the two new positions have not been created, Mr. Mahoney said.
Gunnar Overstrom, vice chairman of Fleet Financial Group, has handled the duties temporarily.