Fidelity Trio Lured to Amex

February 5, 2002 ( - Not only is American Express' hiring money managers from Fidelity Investments, it's also setting up shop in the mutual fund giant's Boston backyard.

American Express announced that portfolio managers Douglas Chase, Robert Ewing, and Nick Thakore, will remain in Boston to open a satellite office. American Express currently has money management offices in Minneapolis, London, Tokyo, and Singapore.

According to American Express’, the new Boston representatives will work domestic large-cap equity investments. Minneapolis will continue to be the center of the company’s equity and fixed income investment management capabilities.

The new hires will have the following responsibilities:

Chase will manage the equity portions of AXP Mutual and VP Managed – the fixed income portions of these portfolios will continue to be managed from Minneapolis,

Ewing will manage VP Capital Resources, as well as AXP Large Cap Equity, a new mutual fund expected to be launched this spring, and

Thakore will manage AXP Growth and its variable annuity counterpart, VP Growth

Approximately $12 billion of American Express equity assets will be turned over to the Boston team in April, according to the company.