Fidelity Investments has announced the appointment of
David Stewart as head of the company's institutional businesses in the UK and Europe. In his new position as managing director of Fidelity Pensions Management, a division of Fidelity Investments Limited, an independent holding company for all of Fidelity's international investment operations.
Stewart, 39, will report to
Richard Horlick, managing director for Fidelity's global institutional business. Stewart has been running the
Fidelity Emerging Markets Fund since November 1997 and has been at the Boston fund giant for the last six years. His duties on the Emerging Markets Fund will be taken over by
Patricia Satterthwaite, who will continue to manage the
Fidelity Latin America Fund and the
Fidelity Advisor Latin America Fund.
In other managerial moves,
Andrew Kaplan, the portfolio manager of the
Fidelity Select Technology Fund will be leaving the company. His duties will be taken over by
Lawrence Rakers, who also manages the
Fidelity Select Computers Fund and
Fidelity Advisor Technology Fund.
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