Fidelity International has appointed Steve Ellis as global chief investment officer of fixed income to replace Charlie McKenzie who is retiring at the end of the year.
Ellis joined Fidelity in 2012 as an emerging market debt portfolio manager and has helped build its $6bn franchise across local currency, sovereign, corporate and unconstrained strategies.
He takes over the role on 1 January and will relinquish his portfolio management responsibilities at the end of the year, handing over to Paul Greer and Eric Wong who are existing co-managers on his portfolios. He will report to Bart Grenier, global head of asset management.
Ellis has more than 25 years’ investment experience, including as a portfolio manager at Goldman Sachs Asset Management where he worked prior to joining Fidelity.
McKenzie, who plans to step down at the end of 2018, announced his retirement earlier this year. He joined Fidelity in 2014 as head of European portfolio management within fixed income and became CIO in January 2016.
Grenier said: “Steve’s appointment will help to accelerate further growth and reinforce our position as a leading global solutions provider. Once again, I would like to thank Charles for his excellent leadership and contribution to the success of the fixed income franchise.”
Ellis said: “Fidelity’s fixed income franchise has gone from strength-to-strength under Charles McKenzie’s leadership and I look forward to taking on this new opportunity as we move into the next stage of our growth plans.”
