Fidelity poaches Citigroup CIO

Fidelity Investments has snapped up Citigroup’s chief information officer, Marvin Adams, Citigroup Inc.’s as president of its Fidelity Shared Services unit.
Mr. Adams will be responsible for overseeing 12,000 employees in Fidelity Shared Services, which includes the Fidelity Technology Group, Fidelity Enterprise Operations and Fidelity Real Estate Co., the company said in a statement.
Prior to joining New York-based Citigroup, Mr. Adams was senior vice president of corporate strategy and chief information officer at Ford Motor Co. in Dearborn, Mich.
Mr. Adams will report to Fidelity president Rodger A. Lawson, who rejoined Fidelity in August, after serving as a vice chairman at Newark, N.J.-based Prudential Financial Inc. (InvestmentNews, July 17).
“As our business relies more and more upon robust technology solutions coupled with efficient operations, Marvin’s background suits him ideally to help us take the greatest possible advantage of our market-leading capabilities in these areas,” Mr. Lawson, in the statement.
The Boston-based mutual fund company held $1.6 trillion in assets as of Oct. 31.