Fidelity Investments has tapped Simon Fraser to head its British and European institutional business. The unit is part of Fidelity International. Fraser will also be responsible for developing new fund and multi-management products. He will assume the new duties on September 1.

Fraser, who is a 25-year veteran at Fidelity, is currently chief investment officer for the unit and is based in London. Michael Gordon, who joined Fidelity five years ago from Schroders to head Fidelity’s investment operation in Southeast Asia, will replace him as CIO. Kathryn Matthews, who runs portfolio strategies and global equities in Fidelity's Hong Kong office, is being promoted to replace Gordon.

"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. "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."  

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