Before now, the unit was run by an operating committee of the board, rather than by a chief executive.

The firm's operating committee will now handle many of the daily administrative decisions.

The operating committee is now composed of eight people.

Fidelity's operating committee counts no women among its 13 members.

And for the first time, proprietary trading would report to the firm's operating committee.

An operating committee, which was already organized, will continue to assume responsibilities for the daily business of the firm.

But the three executives, including a member of the bank's 12-man operating committee, plan to contest the charges.

It now has a three-member operating committee that represents the owners.

Ms. Salhany will remain on the operating committee of the network.

He was also a member of the investment banking division's operating committee.