Fidelity Investments has named former bond manager Charles Morrison to run its asset management unit. Morrison, 53, joined Fidelity in 1987 as a bond analyst. He will succeed Ronald P. O'Hanley, who is retiring.
"Charlie's diverse experience during his 27 years at Fidelity positions him well to advance our asset-management business by continuing to deliver strong, consistent performance across all asset classes, sharpening our global investment focus, and offering innovative products that help deliver better outcomes for our clients," Fidelity President Abigail Johnson said in the statement.
Fidelity also tapped Nancy D. Prior as president of the company's fixed-income division and vice chairwoman of Pyramis Global Advisors. She will report to Morrison.
"A 12-year Fidelity veteran, Nancy has proven herself to be an exceptional leader," said Morrison, in a press release. "As a member of the fixed income senior leadership team for the past three years, Nancy has skillfully managed our money-market business through one of the most challenging market environments in recent memory, all the while balancing the demands and needs of our clients."
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