Fidelity International has announced the promotion of Steve Ellis to Global Chief Investment Officer, Fixed Income following Charles Mckenzie retirement.
Ellis, who will report to global head of asset management Bart Grenier, will start his new role on 1 January 2019 succeeding McKenzie, who will be retiring at the end of 2018.
He 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.
Ellis has 25 years’ investment experience, stretching across research and portfolio management. He joined Fidelity International in 2012 as Emerging Market Debt (EMD) Portfolio Manager and has played an instrumental role in building its $6bn EMD franchise, across a range of disciplines including local currency, sovereign, corporate and unconstrained approaches. Prior to joining Fidelity in 2012, Ellis worked as a portfolio manager at Goldman Sachs Asset Management.
Bart Grenier, global head of Asset Management at Fidelity International, said: “Our investment business has evolved considerably in recent years, diversifying across asset classes to respond to the changing needs of our clients in search of robust investment solutions. Central to this has been the growth of our fixed income franchise which has seen its range of capabilities, staff numbers and assets managed steadily rise. 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.”
Steve Ellis, Global Chief Investment Officer, Fixed Income, Fidelity International, added: “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.”
Fidelity’s fixed income franchise manages $85bn2 on behalf of clients globally. The team consists of 72 investment professionals, made up of portfolio managers, credit and quant analysts and traders.