Fidelity Investments, the second- biggest U.S. mutual-fund company, named Charles Morrison president of its fixed-income unit as part of organizational changes after the death last week of Boyce Greer.
Morrison, 50, who previously oversaw bonds and money funds at Fidelity, was also named vice chairman of the Pyramis Global Advisors unit, Stephen Austin, a spokesman for the Boston-based firm, said in an interview today. Derek Young, who was appointed as president of the asset-allocation unit on Aug., 1, will also take the title of vice chairman of Pyramis, which manages money for institutional clients.
Greer, the former head of Fidelity’s institutional investments and vice chairman of Pyramis, died Aug. 14 at the age of 55 in a kayaking accident in Idaho. In their new roles, Morrison and Young will report to Ronald O’Hanley, the president of asset management at Fidelity, which manages about $1.66 trillion in assets.
Chris Sullivan, president of bonds, and Bob Brown, president of money markets, will report to Morrison, who has been with Fidelity for 24 years in various roles and oversaw the firm’s money funds from 2004 to 2009. Morrison most recently led “strategic projects” within Fidelity, including those gauging the impact of the new Dodd-Frank rules and other regulations on its funds.
The appointments were reported yesterday by Reuters.
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