In more personnel reshuffling at Fidelity Investments, the Boston-based firm announced Tuesday that John J. Mulherin is succeeding Richard T. Barber as president of its National Financial Correspondent Services division.

The move came a day after Fidelity appointed J. Gary Burkhead to head up a new business segment called the Personal Investments and Brokerage Group. Mr. Burkhead is vice chairman of FMR Group, Fidelity's parent.

A Fidelity spokesman said Mr. Barber, who had been with Fidelity since February 1996, would stay on to assist in the transition. Mr. Barber had previously worked at Morgan Stanley.

Mr. Mulherin was previously chief operating officer of Fidelity Investments Institutional Services Co., a position he had held since 1996. His post has not yet been filled, the spokesman said. Mr. Mulherin will now report to Kenneth A. Rathgeber, president of Fidelity's Institutional Brokerage.

National Financial is the sales and client services division of Fidelity's correspondent brokerage business.

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.