Deals and People December 30, 2003

mPower Founding President Joins FIRSCO

December 30, 2003 (PLANSPONSOR.com) - The founding president of online advice company mPower has signed on as executive vice president of marketing for Fidelity Institutional Retirement Services Company (FIRSCO).

Reported by

Fred Schneyer

According to a news release, Stephen Deschenes will oversee marketing and product development efforts for Fidelity’s 401(k) business and report to FIRSCO President William Carey.

Prior to joining Fidelity, Deschenes founded Bow Street Capital, a venture capital firm, and was the founding president of mPower. Morningstar hammered out a deal in May to acquire the San Francisco-based mPower (See Morningstar Bulks Up with mPower Acquisition ).

Deschenes has also worked with various firms in the media industry, including Gruner & Jahr and Time Warner/Time Inc., the announcment said. He is a graduate of Harvard University.