Fidelity Names Team to Run Equities Group
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Fidelity Investments’ new mutual fund chief Robert Pozen named an executive team to run its $300-billion equities investment group that’s struggled with sub-par performance and manager departures. Pozen promoted three Fidelity veterans--Abigail Johnson, daughter of the company’s chairman; Robert A. Lawrence; and Richard Spillane--to help oversee the equities division. The change comes at the same time William Hayes, the chief operating officer of Fidelity’s equities investment group, announced plans to retire from the Boston-based firm.
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