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American Airlines picks Fidelity as sole provider for 401(k) plans
trueAmerican Airlines Fidelity Investments as sole provider for its 401(k) plans, starting in mid-2015.
CEO shift raises Pyramis question
trueAbigail P. Johnson's promotion to CEO of Fidelity Investments - a foregone conclusion to many industry professionals - is prompting questions about what the change will mean for the company and its institutional subsidiary, Pyramis Global Advisors.
Kansas City Police puts $45 million in Fidelity real-return fund
trueKansas City (Mo.) Police Employees’ Retirement System invested $45 million in Fidelity Investments’ Strategic Real Return mutual fund.
Pyramis names new president
trueJeffrey Lagarce was named president of Pyramis Global Advisors, said company spokesman Jeff Cathie.
Abigail Johnson succeeds father as CEO of Fidelity Investments
trueAbigail P. Johnson has been named CEO of Fidelity Investments, effective immediately.
Fidelity Worldwide Investment fills managing director for U.K. position
truePeter Horrell was appointed managing director of Fidelity Worldwide Investment’s U.K. business, a spokeswoman said.
HSBC outsources its DC plan assets to Fidelity
trueHSBC, London, outsourced its £1.8 billion ($2.9 billion) in defined contribution assets to Fidelity Worldwide Investment, said Phillip Bretnall, chief operating officer at HSBC Bank Pension Trust (U.K.).
Vanguard tops in DC target-date assets
trueFidelity still ranked No. 1 among managers of defined contribution assets in mutual funds, with $547.5 billion, up 13% from the previous survey.
SolarCity signs Fidelity as record keeper
trueSolarCity Corp. hired Fidelity Investments as record keeper of its 401(k) plan.
Fidelity Worldwide names European fixed-income chief
trueCharles McKenzie joined Fidelity Worldwide Investment as head of European fixed-income portfolio management.
Fidelity: Average 401(k) balance up 12.9% in last 12 months
trueThe average account balance for participants in 401(k) plans administered by Fidelity Investments rose to $91,000 for the quarter ended June 30, the company reported Friday.
J O Hambro takes 4 from Pyramis to launch U.S. smidcap strategy
trueThorsten Becker, Arun Daniel and Vincent Rivers have been named portfolio managers and Eric Yi has been hired as a trader at J O Hambro Capital Management, said company spokesman Tucker Hewes.
Vanguard vaults past Fidelity in total DC assets
trueVanguard jumped past Fidelity to become the largest manager of U.S. defined contribution assets, a post Fidelity had held since 1998, Pensions & Investments' annual survey of money managers shows.
Great-West walking new path to growth
trueGrowth of Great-West Financial's record-keeping business will be organic from now on, even though the company gobbled up J.P. Morgan's large-plan defined contribution business and merged Putnam Investments' record-keeping business into Great-West's.
Tussey decision puts question mark over other float-income suits
trueFidelity Investments' recent victory in Tussey vs. ABB Inc. creates questions for plaintiffs in several other lawsuits alleging a similar fiduciary breach by Fidelity in its handling of float income.