FMR appoints new president

Fidelity Investments has appointed Rodger Lawson as the president of FMR Corp., the group's holding company. Mr. Lawson will assume his new role on Aug. 6 and will report to Fidelity chairman and chief executive Edward Johnson, the company said in a statement. Prior to this post, Mr. Lawson was a vice chairman at Newark, N.J.-based Prudential Financial Inc, and was responsible for the international insurance and investments division. He also served as executive vice president, Marketing and Planning. Mr. Lawson was the managing director and chief executive of Fidelity's retail operation from May 1985 to May 1991, and during his tenure the company's retail assets almost quadrupled to $83 billion from $22 billion and the number of customer accounts increased to 7 million from 3 million, the company said. Mr. Lawson will be responsible for Fidelity Employer Services Company; Fidelity Investments Distribution and Operations Company; and Fidelity Technology Group. Mr. Johnson will continue to oversee Fidelity Management & Research Company, Pyramis Global Advisors and Devonshire Investors, the company said. Boston-based Fidelity had $1.5 trillion in assets under management as of June 30.