Fidelity names Morrison head of fixed income

Fidelity Investments last week named Charles Morrison president of its fixed-income unit as part of organizational changes in the wake of the death of Boyce Greer on Aug. 14. Mr. Morrison, 50, who previously oversaw bonds and money funds at Fidelity, also was named vice chairman of the Pyramis Global Advisors unit, said company spokesman Stephen Austin. Derek Young, who was appointed president of the asset allocation unit Aug., 1, also will take the title of vice chairman of Pyramis, which manages money for institutional clients. Mr. Greer, who was head of Fidelity's institutional investments and vice chairman of Pyramis, died at 55 in a kayaking accident in Idaho. In their new roles, Mr. Morrison and Mr. Young will report to Ronald O'Hanley, president of asset management at Fidelity, which manages about $1.66 trillion in assets. Chris Sullivan, president of bonds, and Bob Brown, president of money markets, will report to Morrison, who has been with Fidelity for 24 years in various roles and oversaw the firm's money funds from 2004 to 2009. Morrison most recently led “strategic projects” within Fidelity, including those gauging the impact of the new Dodd-Frank rules and other regulations on its funds.