Fidelity Names New FIRSCo Head

April 29, 2003 ( - Fidelity Institutional Retirement Services Company (FIRSCo) has a new president.

Fidelity Investments announced it has tapped William Carey to run the Boston investment company’s 401(k) unit. Carey, 42, a 10-year Fidelity veteran, was formerly executive vice president of Fidelity’s Emerging Corporate Market group. Carey succeeds Joseph LoRusso, who was named president of Fidelity Investments Institutional Services Company, Inc., last year (See LoRusso to Leave Fidelity’s FIRSCo ).

Carey, who joined Fidelity in 1993, has held a series of sales and management positions. In January 2000, he was appointed executive vice president responsible for leading Fidelity’s Emerging Corporate Market business, which focuses on 401(k)s for smaller companies. Prior to Fidelity, Carey held senior sales management positions in the employee benefits group of Aetna. He earned a BA in economics from Bates College, Lewiston, Maine.