Fidelity International has appointed Bart Grenier to the newly-created role of global head of asset management.
Grenier is a veteran of Fidelity International’s US sister company Fidelity, having worked on and off for the firm since 1991.
In his new role he will be based in London and report directly to Brian Conroy, president of Fidelity International.
Grenier re-joined Fidelity in July of last year following a spell as chief executive of The Boston Company Asset Management. He was named head of investment solutions and innovation in Fidelity's personal investing division.
After just six months he is leaving this role to move to London and will be replaced by Brian Hogan, who has been president of equity and high income investing in the firm’s asset management group since 2009.
Grenier has a long history at Fidelity, where he worked from 1991 to 2005, ending up as a vice president, overseeing the firm’s equity trading desk.
According to The Wall Street Journal, he originally left Fidelity, for a four-month period in 1997, for DDJ Capital Management, where he worked with a number of former Fidelity portfolio managers, before returning to Fidelity in August of that year to head up its high income division.
He then left the firm for a more prolonged period in 2005 when he joined DB Advisors, a division of Deutsche Asset Management, as chief investment officer and managing director.
During his spell at Deutsche, in 2008, the Securities and Exchange Commission (SEC) charged Fidelity and 13 then current and former employees for improperly accepting $1.6 million in travel, entertainment, and other gifts paid for by outside brokers looking to win trading business from the asset manager.
Grenier was one of the former employees named in the SEC allegations, alongside legendary portfolio manager Peter Lynch, among others.
Both men settled the SEC charges without admitting or denying the allegations.
In 2011 he left Deutsche for The Boston Company, where he was chairman, chief executive and CIO, until his departure in 2017.