Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Fido Picks Up More Clearing Biz Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, October 16, 2002

Fido Picks Up More Clearing Biz

by: Ki Kim

SunTrust Capital Markets has tapped Fidelity's clearing and back-office services unit to support both SunTrust Robinson Humphrey Capital Markets and Alexander Key Investments, the bank's retail brokerage division.

As part of the deal, Fidelity Investments Institutional Brokerage Group is providing technology solutions, operational support, securities processing, and brokerage and investment products. Fido has been providing clearing services for SunTrust Securities, Inc., the broker/dealer arm of Atlanta-based SunTrust Banks, since 1999.

"After a thorough analysis of providers, we chose Fidelity because of their experience in the retail brokerage and institutional markets, and because they have demonstrated the commitment and capacity to help an organization as diverse as ours meet the needs of our clients and drive new business growth," said Tom Tracy, chief executive officer, SunTrust Robinson Humphrey Equity Capital Markets, in a release.

"Fidelity continues to invest significantly in its clearing and capital markets platforms to meet the evolving needs of organizations such as SunTrust Robinson Humphrey," said J. Peter Benzie, executive vice president and head of Fidelity's Correspondent Broker/Dealer business, in the release.

Fido now provides clearing services to more than 160 correspondent broker-dealers, representing some 3.4 million accounts and more than $235 billion in assets, according to the Boston Behemoth.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use