MutualFundWire.com: Top Leaders at Fido and the SEC Say Goodbye

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Thursday, January 16, 2020

Top Leaders at Fido and the SEC Say Goodbye

A top regulator and a leading fixed income fundster are both preparing to say goodbye.

Nancy D. Prior
Fidelity Investments
President of Fixed Income

Nancy Prior, the 52-year-old president of fixed income at Fidelity Investments [profile], will retire from the Boston Behemoth later in 2020, Bloomberg reports. No successor has yet been named for Merrimack, New Hampshire-based Prior, whose unit has more than 200 staff and $1 trillion in AUM.

Meanwhile, Securities and Exchange Commission (SEC) commissioner Robert Jackson step down on February (which will be his 43rd birthday) and go back to teaching at NYU, Reuters and Bloomberg report. (He had been on leave from the Gotham university.) Jackson is an independent, though he fills one of two Democratic seats at the SEC.

Prior joined Fidelity in 2002 in the fixed income unit's legal group. Over the years, she served as: senior vice president and deputy general counsel of fixed income: managing director of credit research; president of money markets; and president of money markets and short duration bonds. She rose to president of fixed income in 2014, and at one point she oversaw both fixed income and multi-asset class strategies. Prior to joining Fidelity, she worked at a law firm, Mintz Levin. She is an alumna of Northeastern University's School and of Harvard University.

"She was Fidelity's bond queen — instrumental behind the scenes in shaping the trillion-dollar future of Fidelity's bond group more than a decade ago," Jim Lowell, editor of the Fidelity Investor newsletter, tells Bloomberg.

President Trump appointed Jackson to the SEC, and the academic joined the commission in January of 2018. Though his term expired in June of 2019, he could've stayed on for up to 18 more months (i.e. about a year more from now) or until the Senate confirmed a successor, whichever came first. Before joining NYU's law school, he worked at Columbia's law school and as a senior policy advisor at the U.S. Treasury. He is an alumnus of Harvard (twice over), of the Wharton School of Business, and of UPenn.

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