Fidelity Taps Wilens for Asset Mgt. Executive Post

June 12, 2008 ( - Fidelity Investments has turned to Thomson Reuters executive Michael E. Wilens to fill the new position of head of asset management.

class=”bodytext”>Fidelity President Rodger A. Lawson said in a news release that Wilens will oversee Fidelity Management & Research Company (FMRCo), Pyramis Global Advisors, and Strategic Advisers. Among his responsibilities, Wilens will provide management oversight to the asset management groups, work with fund trustees and direct the firm’s investment technology and operations areas, Fidelity said.

class=”bodytext”>Wilens will join Fidelity in mid-July and be a member of the firm’s Executive Committee.

class=”bodytext”>”For some time now, we have been looking for an exceptional executive to provide cohesive oversight of Fidelity’s three major investment divisions,” said Lawson, to whom Wilens will report. “As the range of investment products and services offered by these groups grows more diverse, we need a highly experienced business leader who can offer in-depth management expertise and guidance to the executives directly in charge of our investment experts.”

Fidelity has $3.3 trillion in assets under custody, including $1.5 trillion in managed assets.