EUROPE – Fidelity International says Michael Gordon will take over as European chief investment officer from Simon Fraser, who becomes president of the UK and European institutional business.

Gordon, who joined the firm five years ago from Schroders, is currently its investment chief for South East Asia.

The company said 25-year company veteran Fraser would take on a “newly expanded role”, developing multi-management and new fund and product development. He has been European CIO since 2001.

“Michael Gordon brings strong international experience to the position of chief investment officer having done an excellent job of developing Fidelity’s investment teams across the Asia Pacific region,” said vice chairman Barry Bateman.

Bateman added: “We believe the UK and European institutional business environment is changing rapidly and that consultants and corporations will demand new investment strategies, products and services to meet their needs going forward.”

Kathryn Matthews will replace Gordon in Hong Kong.

The appointments take effect on September 1.

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