Fidelity Investments has named Nancy Prior as new president of its fixed income division replacing Charlie Morrison.
Additionally, he will also serve as vice chairman of Pyramis Global Advisors.
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Fidelity’s global fixed income unit includes the company’s money markets and short duration bonds units. Prior will be responsible to improve marketing of bond products.
Prior will report to Charlie Morrison, president of Fidelity’s US$1.9 trillion asset management organization. Morrison was appointed as president of asset management in February 2014.
Prior, who joined Fidelity in 2002, most recently served as president of Money Markets and Short Duration Bonds. Before to this, she served as managing director of Credit Research from 2009 to 2011, where she was responsible for leading a team of research associates in the financial sector.
Prior has started her career at Fidelity as a senior legal counsel for fixed income, and then became senior vice president and deputy general counsel. Earlier to this, she was general counsel at Advantage Schools and an attorney at Mintz Levin in Boston.
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By GlobalDataMorrison said: "She will work closely with the incredibly talented teams already in place across our bond and money market groups to continue our focus on delivering strong, risk-adjusted performance for our clients and shareholders."
"Fixed income markets are growing and changing rapidly, driven by shifting demographics, regulatory changes and an increased interest in outcome-oriented solutions," added Prior.
Fidelity’s fixed income division currently manages more than US$750 billion in assets on behalf of retail, intermediary and institutional clients globally.
