A Fidelity news release said, in his new role, Murphy will oversee the business unit providing HR, payroll, and benefits services to companies.
Before the JPMorgan position, according to the announcement, Murphy was president of CitiStreet, where he ran the firm’s Total Benefits Outsourcing (TBO) business, including client services, IT, and product development. He also served as principal and chief operating officer of State Street Corporation’s Retirement Division from 1991 to 1998 and was responsible for the firm’s Defined Contribution and Defined Benefit businesses.
“With 30 years of experience in positioning businesses for growth and success, including managing turnarounds, improving integration between business units, and driving efficiencies in organization design and operations, Jim has the experience and leadership skills needed for HR Services” said Larry C. Renfro, president of Fidelity Developing Businesses, to whom Murphy will report.
Murphy was succeeded in the JPMorgan post by Pamela Popp, according to the JPMorgan announcement this week (See JPMorgan Retirement Plan Services Gets New CEO ).