The head of Fidelity Investments' mutual fund advisory unit has been named a vice chairman of the parent FMR Corp. and reassigned to run the company's new institutional group.

As president of Fidelity Institutional Group, Gary Burkhead will oversee the management of several core businesses in the United States and Canada, including institutional investments and retirement plans. He will also supervise the unit's work with investment advisers and Fidelity's brokerage unit and trust company.

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