Guy Patton has been appointed executive director of the Institute, and W. Van Harlow, Ph.D., has been appointed managing director of research, according to a press release. Patton was previously president of Fidelity Human Resources Services Company, while Harlow most recently served as president and CEO of Fidelity Asset Management Services. James MacDonald will be replacing Patton in his previous position.
Regarding the rationale behind the creation of the Institute, “It comes down to two words: Ideas matter,” Patton said in a conference call discussing the launch.
The Institute will be governed by a nine-member board of directors made up of senior Fidelity executives and an Advisory Board of 15-20 outside experts from various disciplines, the release said.
Additionally, Fidelity announced results of the first project by the Institute, a report discussing new withdrawal strategies designed to maximize lifetime income and minimize taxation effects (See “Out-of-the-Box” Withdrawal Strategies Can Prolong Retirement Income ).
The press release said this first report is indicative of the type of issues on which the new Institute will focus. During the conference call, Fidelity said it expects the Institute will put out five to 10 pieces of research each year, some from outside the firm.
More about the Institute is at www.fidelityresearchinstitute.com .