Fidelity spokeswoman Anne Crowley told PLANSPONSOR.com that a group of managers who had reported to LoRusso will run FIRSCo until a permanent head is named. FIRSCo provides 401(k) plans.
The Boston-based investment company announced Thursday that LoRusso was being tapped as president of Fidelity Financial Intermediary Services (FFIS). The unit provides investment management to investment professionals at banks, insurance companies and brokerage firms.
LoRusso, a nine-year Fidelity veteran, started as vice president in FIRSCo’s Marketing Department and also served as senior vice president in charge of large plan services before becoming president in June 2000, Fidelity said.