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Fidelity names Clougherty as head of UK retail

Fidelity Worldwide Investment has announced former Aviva Investors UK Funds chief executive John Clougherty will join as head of UK retail in June.

Clougherty’s departure from Aviva Investors, as revealed by Money Marketing in March, followed the firm announcing in January that it would cut 160 jobs, with its London-based European, emerging markets, global and SRI equity desks closing.

Fidelity UK managing director Hugh Mullan says: “Clougherty’s wide-ranging experience across the industry means he is extremely well-placed to drive Fidelity’s retail business forward at a time of great change and opportunity in fund distribution.

“Our retail business is already a substantial player with assets of approximately £32bn and I am confident that he will deliver the full potential of our significant product offering to our existing and future intermediated customers.”

Ben Waterhouse, head of UK retail sales, will report to Clougherty and will continue to be responsible for distribution.

Clougherty has held senior management and sales positions at Fleming Asset Management, Merrill Lynch Investment Managers and Skandia Asset Management.

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