GLOBAL – Mercer has named Fidelity’s Phil de Cristo as president of its multi-manager arm Mercer Global Investments, a new role.
De Cristo, 45, will take up the position on January 3, Mercer said – adding that he joins from Fidelity Investments, where he was most recently the managing director for European defined contribution plans.
Mercer said he joined Fidelity in 1987 and that his career spanned distribution, operations, product development and retail mutual funds in Luxembourg, Bermuda and Boston.
“Phil’s broad-ranging, international investment background is an excellent match for Mercer Global Investments’ growth and leadership goals,” said Mercer Human Resources president Michael Caulfield. “The global multi-manager market is expanding dramatically, and Mercer is already a major player.”
He foresaw “a significant global expansion of our business in 2006”.
MGI’s worldwide assets under management stood at $8.25bn at the end of September, from $6bn at the end of 2004. Plans are underway to expand into Asia, Canada, and Europe in 2006.
Elsewhere, rival firm Hewitt Associates has named Clint Dove to its investment consulting practice. He will lead Hewitt’s London-based hedge fund and fund-of-fund research effort and provide investment advice to pension fund clients.