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Rating:Top Fidelity Trader Calls it Quits Not Rated 2.3 Email Routing List Email & Route  Print Print
Thursday, March 24, 2005

Top Fidelity Trader Calls it Quits

by: Theresa Sim

Another Fidelity Investments trader has left the firm amid continued scrutiny of the firm's entertainment and gifting practices, reports the Boston Globe.

David K. Donovan Jr., who is head of Fidelity's technology trading group, resigned on March 22.

"I want to move on and do something different," Donovan told Andrew Caffrey of the Boston Globe.

Donovan told Caffrey that he was not fired and also did his decision was unrelated to the green-for-greens probe issues at Fidelity.

Fidelity's trading group is headed by Scott DeSano, who was reportedly fined $50,000 for failing to properly supervise traders. Fidelity has disciplined at least 16 traders and fired two in connection with the gifting probes.  

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