Fidelity Investments today announced that its president and chief operating officer,
Jim Curvey, 65, would be returning to a leadership position at its
Fidelity Capital and Venture business. Curvey had headed the Capital and Ventures businesses for 10 years before being named to the chief operating officer post in May 1997.
Taking his place as chief operating officer will be
Bob Reynolds, 48, who is also being promoted to vice chairman of the company.
Joining Reynolds as new vice chairman will be
Bob Pozen, 53, who will continue in his role as president of
Fidelity Management and Research, the firm's investment advisory arm.
Curvey will continue to be chairman of
COLT Telecom Group and all three of its vice chairmen will report directly to Ned Johnson 3d. These operating changes are effective July 3, 2000.
Fidelity also said it would reorganize the institutional retirement businesses Reynolds had been heading.
Fidelity Institutional Retirement Services Company (FIRSCo) president
Peter Smail will be responsible for the company's 401(k) and benefits/payroll/human resources outsourcing businesses as president of
Fidelity Employer Services Company.
Ellyn McColgan, president of
Fidelity Tax-Exempt Services Company, would head Fidelity's tax-exempt, trust and other institutional retirement businesses as president of
Fidelity Investments Institutional Retirement Group. Both Smail and McColgan will join Fidelity's Operating Committee.
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