Fidelity Clearing Canada has strengthened its senior management team with three appointments, the company said Tuesday.

Tom White has been hired as chief operating officer, Ron White as chief financial officer, and Bryan Moffitt as chief compliance officer. Based in Toronto, all three executives will report to Bill Henderson, CEO, Fidelity Clearing Canada.

Based in Toronto, the company provides clearing, custody and back-office support services to Canadian-based brokerage firms and the Canadian brokerage arms of U.S.-based firms. The business is part of Fidelity’s U.S.-based clearing organization, National Financial.

“With a combined average experience of more than 20 years, Tom, Ron and Bryan are very well-known and respected leaders within their disciplines each possessing a deep knowledge and understanding of the Canadian clearing market and broker-dealer industry,” says Henderson.

As COO, Tom White will be responsible for the day-to-day management of key operating functions. He comes to Fidelity Clearing Canada after 27 years with Merrill Lynch Canada, Inc., most recently as director and vice president of its global markets & investment banking service.

As CFO, Ron White will be responsible for overseeing all aspects of the finance functions. He joins Fidelity Clearing Canada from the Bank of Nova Scotia in Toronto where he served as CFO of Scotia iTrade, formerly E-Trade Canada.

As CCO, Bryan Moffitt will be responsible for compliance and oversight. Moffitt comes to Fidelity Clearing Canada from RBC Direct Investing Inc., where he served as CCO and was the primary contact for interaction with all regulatory bodies including IIROC and OSC, and was also responsible for ensuring that the company met its regulatory obligations.

ITG Canada chooses Fidelity for securities clearing

Fidelity Clearing Canada also announced that ITG Canada Corp., the Canadian unit of Investment Technology Group, Inc. (ITG), an independent agency broker and financial technology firm, has selected it to provide securities clearing.

In addition to securities clearing, Fidelity Clearing Canada will provide ITG with real-time transaction processing as well as integrated risk management and operational tools as part of its open architecture brokerage platform.

With the addition of the ITG relationship, Fidelity Clearing Canada has now established relationships with seven Canadian broker-dealers in its first year of operation. Fidelity Clearing Canada currently clears approximately 260,000 trades per month on behalf of its seven clients.

IE