| NEW YORK
NEW YORK Fidelity Investments has hired a TD Ameritrade AMTD.N executive to head its brokerage division.
Ram Subramaniam, formerly managing director, head of products at TD Ameritrade, is joining the Boston-based fund company as executive vice president and head of brokerage and cash management, a Fidelity spokesman said on Monday.
He will report to Kathleen Murphy, president of personal investing at Fidelity and will begin his new position in January, the spokesman said.
Subramaniam replaces James Burton, who is taking over a new role as head of integrated marketing and customer strategies, the spokesman said.
Subramaniam joined TD in 2009 and reported to Tom Bradley, head of retail distribution at TD Ameritrade, a TD Ameritrade spokeswoman said. Before joining TD he was at Morgan Stanley (MS.N), where he held a number of senior positions, including head of banking, lending and accounts in the firm's global wealth management group, according to TD Ameritrade's website.
TD Ameritrade has promoted Marco De Freitas, who formerly was a managing director in the technology and operations group, to replace Subramaniam, the TD spokeswoman said.
(Reporting By Jessica Toonkel; Editing by Carol Bishopric and Dan Grebler)