Bill Henderson has been hired as CEO of Fidelity Clearing Canada ULC, U.S.-based Fidelity Investments announced Tuesday.

Henderson’s affiliation with Fidelity Clearing Canada is effective immediately. He will officially assume his role as Chief Executive Officer once all regulatory prerequisites have been satisfied.

A 38-year veteran of the Canadian broker-dealer industry, Henderson comes to Fidelity Clearing Canada from Market Logics, a strategic planning and consulting firm, where he served as executive vice president and operations specialist.

Henderson is based in Toronto and reports to Sanjiv Mirchandani, president of Fidelity’s U.S.-based clearing business, National Financial.

“Bill is a recognized and well-respected authority within the Canadian financial services market with extensive brokerage and operations experience,” says National Financial’s Mirchandani. “Bill will lead a talented local management team that has already gotten the business off to a strong start with five clients, including three new firms we are announcing today.”

Henderson will succeed Rick Ness, who was appointed interim CEO for Fidelity Clearing Canada when the firm was launched in September of last year. Ness will continue to work with Henderson to help Fidelity Clearing Canada grow.

“I am very excited to be joining Fidelity’s new Canadian clearing operation,” says Henderson. “Having worked at Fidelity in the past, I have first hand knowledge of the tremendous people, technology and service that the company can leverage to provide broker-dealers with the resources they need to enhance operational efficiencies and grow.”

As CEO, Henderson will have full P&L responsibility for Fidelity Clearing Canada, as well as oversight of client management, new business development, day-to-day operations, and new product and systems development.

Prior to his tenure with Market Logics, Henderson worked at Fidelity Investments Canada, where he served as senior vice president of operations and client service from 2002 until 2007. From 1993 to 2002, Henderson held positions as vice president, private client group for TD Canada Trust and executive vice president, private investment advice at TD Waterhouse. In 1980, Henderson joined Merrill Lynch and later played a major role in the company’s merger with Wood Gundy in 1990.

Fidelity Clearing Canada selected by three additional broker-dealers

Fidelity Clearing Canada also announced that it has established new correspondent clearing relationships with three Canadian broker-dealers, Independent Trading Group, Global Maxfin Investments Inc. and Octagon Capital Corp. Since being founded only eight months ago, the firm has established a total of five client relationships.

The three firms selected Fidelity Clearing Canada to provide back-office support, including trade execution, clearing and custody. In addition, the company will support a comprehensive platform of investment products, including mutual funds and individual securities, as well as sophisticated brokerage technology.

IE