Shea was previously head of Fidelity’s platform operations and customer services and has been with the company for 26 years.
He takes over from UK managing director Hugh Mullan who temporarily assumed responsibility for FundsNetwork when White left in the summer.
During his time at Fidelity Shea has worked in a number of senior roles across the globe, including Bermuda, Hong Kong, Taiwan, India and the UK.
While he was head of the firm’s business in Taiwan he launched and managed the FundsNetwork platform in that country.
Mullan said; “I am pleased to announce the appointment of such an experienced, long-serving and loyal Fidelity manager to the important role of head of FundsNetwork.
“Shea has exactly the right blend of skills, knowledge and experience to lead FundsNetwork through the exciting and challenging period ahead as we move towards the implementation of the Retail Distribution Review and beyond.”