Fidelity signs Ohlsson to head up business

Fidelity Investmentshas snaredBarclays Global Investors(BGI) adviser services director Michael Ohlsson to manage its Australian business.

Ohlsson's appointment as managing director - a the role that has been vacant for the past two years - will see Fidelity general manager Jason Henchman move into the new role of director operations.

Henchman has steered the group's Australian-arm since 2002 following former managing director Michael Gordon relocating to Hong Kong to become Asia-Pacific chief investment officer of the broader group.

In his new role, Ohlsson will provide overall strategic direction and leadership to Fidelity’s business in Australia.

In addition to the day to day management of Fidelity’s operation, Ohlsson will have responsibility for sales and ongoing management of relationships with clients, strategic partners and consultants, working closely with Fidelity investment director Charles Wall and director institutional marketing Jenny Josling.

Ohlsson, who resigned from BGI director yesterday and is scheduled to be announced as Fidelity's new head later today, commences in the role on July 19.

Fidelity commenced operations in Australia in 1996 by providing investment management to Australia and New Zealand institutional investors, and now has more than $7 billion in wholesale funds under management.

Following this initial foray the group formed an exclusive strategic alliance withPerpetual Investmentsin 1998 to offer retail investors its range of international funds through the Fidelity Perpetual brand, which now amounts to $2.25 billion in funds under management.