Fidelity has promoted its director of the UK Strategic Account team, Dennis Pellerito, to head of UK wholesale.
In the role, he will be responsible for developing the long-term strategy for growing Fidelity’s offerings to wholesale clients in the UK.
Pellerito joined the firm in 2013 from Argonaut Capital Partners, where he was head of UK sales.
He succeeds John Clougherty (pictured), who announced his decision to retire at the end of 2022. Clougherty will hand over the role in March, but will stay on until September to ensure a smooth transition.
Managing director for Europe Christian Staub said: “Following a successful career spanning over 30 years, including 17 years at Fidelity, we would like to thank John for his considerable contribution to the business during his time at Fidelity.
“Dennis is a long-standing member of Fidelity’s wholesale team, known for his focus on client satisfaction, deepening relationships and his strong strategic and forward-looking capabilities. These skills will be valuable in navigating the team upward through the rapidly evolving investment landscape.”