Fidelity shakes up management team
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Peter Hicks is leaving his role as head of UK retail sales at Fidelity International to become Fidelity’s product director for UK equities.
Hicks (pictured) will work with Fidelity’s UK equity fund managers and act as a conduit between the investment team and Fidelity’s distribution teams.
Ben Waterhouse, who was recruited from Legal & General Investment Management in April, will take on Hicks’ responsibilities on the sales side while taking on the wider role of head of IFA and wholesale businesses.
He was originally appointed to take on the role of head of UK wholesale.
Waterhouse joins Fidelity in August, when Hicks will assume his new role. The FundsNetwork sales team will report to Julian Webb, head of UK DC pensions.
Hicks says: “I’m really excited about my new role. As anyone who knows me will confirm, I have a huge interest in investment and relish the opportunity to become more involved with the growth and development of our range of UK equity funds, as well as using my experience and knowledge of distribution to really serve our clients well.“
UK Managing Director Gary Shaughnessy says: “Peter has had a number of roles at Fidelity over many years and has helped build a very strong and successful intermediary distribution network for us.
“He is now moving into an area which we expect to be a key part of Fidelity’s future growth. Peter has a huge amount of experience and a great knowledge of both investment and distribution, which makes him ideally suited for his new responsibilities.”
He adds: “Ben was originally joining us as head of UK wholesale but as currently he also has responsibility for IFA sales at L&G, a wider role covering both areas will work well.
“As our platform supports both corporate and advised clients, bringing the FundsNetwork and DC sales teams into the same area is consistent with our new combined approach to platform development and while the two sales teams will remain entirely separate, they will be able to benefit from other synergies in our platform business.”
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