Fidelity is continuing to build the staff of Pyramis Global Advisors, its just-created institutional asset management unit headed by Peter Smail. This week, Pyramis filled two senior posts, but it is still looking for a chief investment officer.

Reuters reports that Pyramis tapped a director of equity research and a head of trading on Wednesday. It added that the Boston Behemoth is expecting to fill the CIO post soon.

The stock research job went to Seema Hingorani while Michael McCauley takes the job as head of trading. Hingorani was most recently at Mirador Capital Management, a hedge fund she founded with Michael Parker last year. Before that, she was at Pequot Capital Management and Andor Capital Management.

McCauley joins Pyramis from Pulse Trading. He is also a Fidelity veteran, having worked at the fund firm from 1994 to 2002 as a senior sector trader.

The unit is based in Rhode Island and will operate independently from Fidelity Management & Research, the unit that advises the firm's mutual funds. Fidelity is creating the separate unit to appeal to plan sponsors and institutions. Smail built his reputation in Fidelity's defined contribution recordkeeping business and served as president of Fidelity Employer Services Company before moving over to Pyramis.  

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