The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:In 2020, an Ex-PM Will Take Over Fidelity AM Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, December 03, 2019

In 2020, an Ex-PM Will Take Over Fidelity AM

News summary by MFWire's editors

The chief of an asset management business with nearly $3 trillion in AUM is preparing to pass the reins. A former PM will succeed the fund firm's former tech chief.

Bart Grenier
Fidelity International Limited
Global Head of Asset Management
Abby Johnson, chairman and CEO of Fidelity [profile], recently picked Bart Grenier as the next head of Fidelity's asset management organization, MFWire has learned. Grenier, age 60, currently serves as global head of asset management at Fidelity International Limited in London; he will succeed current Fidelity AM chief Steve Neff, age 67, who will retire at the end of Q1 2020. Grenier will report to Johnson.

Stephen C. Neff
Fidelity Investments
President of Asset Management
News of Neff's impending retirement and Grenier's appointment (also reported on by Reuters and the Wall Street Journal) comes less than a year after Neff took over Fidelity AM, succeeding Charlie Morrison. The news also comes about two years after Grenier rejoined the Fidelity family after leaving in 2005.

"Steve [Neff] will be remembered as a skilled steward for Fidelity's mutual fund shareholders and institutional clients, as well as an innovative leader of technology development," Johnson wrote in an internal Fidelity memo about Neff's retirement and Grenier's appointment. "But perhaps most lasting, he has been a compassionate advocate of diversity and inclusion, skills-based volunteering, and talent development. Steve leaves an enduring legacy of optimist and action in helping associates reach their true potential."

As for Grenier, Johnson lauds him as "the ideal candidate to succeed Steve."

"The breadth of [Grenier's] experience across investment strategies and asset classes, as well as his strategic insights and spirit of innovation, makes him well suited to lead asset management," Johnson wrote in the memo.

Grenier, an alumnus of RPI and of CalPoly-Pomona, joined Fidelity in 1991 and rose up through a variety roles, including portfolio management, and at different times he led Fidelity's asset allocation, equity trading, fixed income, income growth, high income, money market, strategic advisers, and value teams. In 2008, Grenier was one of 13 current and former Fidelity employees charged by the SEC in a case over accepting gifts; Grenier settled without admitting or denying the charges, which related to his time leading equity trading.

Grenier left Fidelity in 2005 and joined DB Advisors (a Deutsche AM arm) as managing director and chief investment officer. In 2011, Grenier took over BNY Mellon's Boston Company Asset Management as chairman and CEO. He returned to Fidelity as an SVP in 2017, and at the beginning of 2018 he took on his current role at Fidelity International (a separate company from Fidelity Investments in the U.S., though they have some common ownership).

Neff, an alumnus of Rutgers, started his career at IBM and then worked at Salomon Brothers before joining Fidelity in 1996. Over the past 23 years at the Boston Behemoth, he served in a variety of roles, including: chief information officer of Fidelity Investment Management Technology; enterprise chief technology officer; and head of technology and global services. He took over as president of the asset management division at the end of 2018. 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use