Fidelity promotes Perold to asset management chief

Jacques Perold was named head of Fidelity Investments' $1.4 billion asset management group, which includes Pyramis Global Advisors, said Vincent Loporchio, spokesman. Mr. Perold replaces Michael Wilens, who will become leader of Fidelity's workplace investing client management team, overseeing its 401(k) plan business. Along with Pyramis, which primarily runs Fidelity's defined benefit, endowment and foundation business, Mr. Perold will oversee Fidelity Management & Research, the company's mutual fund business; and Strategic Advisors, which provides discretionary and non-discretionary investment management for retail and institutional clients. Mr. Perold now reports to Rodger Lawson, president of Fidelity Investments. Mr. Perold was chief operating officer of asset management, reporting to Mr. Wilens. Mr. Perold hasn't decided on restructuring the asset management unit, including whether the COO position will be filled, said Mr. Loporchio. Mr. Wilens will replace Scott David at the workplace investing client management team, effective Dec. 31. Mr. David plans to take an indefinite leave of absence for family matters. Workplace investing oversees $818 billion. Mr. Wilens will report to Abigail Johnson, president of the $1.6 trillion personal and workplace investing division.Both Messrs. Perold and Wilens will continue to serve on Fidelity's executive committee. Barry B. Burr is a reporter for sister publication Pensions & Investments.