Fidelity Investments has appointed Sara Zenoble as chief operating officer: mutual funds, based in London.

All of the group's European-based mutual fund managers will report to her. Rick Spillane, currently chief investment officer for the European investment team is moving to Boston. His fund management responsibilities will be shared by chief investment officer: institutional Richard Horlick, Sally Walden who has been appointed group leader mutual funds and Graham Clapp, who becomes group leader institutional portfolios.