William C. Carey, who since July 2005 has been president of Fidelity Registered Investment Advisor Group (FRIAG), is taking on a new role at Fidelity Investments Institutional Services Company (FIIS), as EVP of national accounts, effective November 1. During his tenure as FRIAG president, the business grew from $144.8 billion in assets and 2,843 affiliated advisors, as of August 31, 2005, according to Carey in a September 2005 interview with IA Editor-in-Chief Jamie Green, (see article here ) to “over $178 billion in assets on behalf of more than 3,200 advisors as of June 30, 2006,” according to the latest figures published on the Fidelity Investments Web site.

Highlights of what Fidelity called Carey’s “successful tenure” at FRIAG include “developing a market segmentation strategy, a renewed focus on measuring and improving customer satisfaction, and the recently announced partnership between SunGard and Fidelity to provide brokerage, custody and clearing services for SunGard’s 600 intermediary clients,” says Fidelity Investments spokesman Stephen Austin.

In his new post at FIIS, Carey, who has been with Fidelity for 13 years, will report to FIIS President Joseph T. LoRusso, and head a new group focused on relationship management, and investment support to the institutional broker/dealers who are FIIS’s clients. Carey will move from a business that is primarily clearing and custody–FRIAG–to a business driven by product and distribution, namely mutual funds and 401(k)s.

Stepping into the FRIAG presidency is Jack Callahan, a 15-year company veteran. His previous post was president of Fidelity Institutional Retirement Services Company–the same post that Carey had held prior to his appointment as president of FRIAG. Callahan will report, as did Carey, to Ellyn McColgan, president of Fidelity Brokerage Company.