Whelan has spent the past 18 years at US investment firm Morgan Stanley and has a 10 year track record in investment management. He will run Fidelity’s European equity portfolio when he arrives in March.
In addition to running European equities at Morgan Stanley, Whelan also has general experience in fixed interest, long-only fund selection, hedge funds and private equity.
Whelan’s appointment is the fourth to the team in recent months, following that of Eugene Philalithis as fixed income specialist in September and that of Geraldine Stewart as head of investment for the multi-manager arm. The group also hired former Bates Investment Services head of communications Paul Illot.
Stewart says: “We are delighted to welcome Dermott to Fidelity. He has long experience and deep knowledge across a number of asset classes, and success as both a private client portfolio manager and fund of funds manager with one of the world’s leading investment organisations, will further strengthen our team of investment professionals.”
Fidelity has been looking to bolster its team in the past few months following the departures of Chris Ralph, Jason Collins and Simon Mungall to set up Maia, a joint venture multi-manager boutique with Resolution.