Fidelity hires global head of product

Fidelity International has hired Hugh Prendergast as global head of product.

Prendergast was formerly head of strategic product and marketing at Pioneer Investments, which was acquired by Amundi last year for €3.5 billion.

Amundi said that Prendergast was not being replaced.

In the newly created role, Prendergast will lead Fidelity’s product teams based around the world and will be responsible for continuing to develop its global product strategy. He will report to Bart Grenier, global head of asset management.

Grenier said: “The needs of our clients are becoming ever more complex and it is critical that we continue to innovate when it comes to products and solutions to meet these needs.”

Fidelity has £77.4 billion (€88 billion) in assets under administration.

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