Fidelity has hired Barclays’ Peter Horrell as the managing director for its UK business after Hugh Mullan left the post in February this year.
Mr Horrell. who has been chief executive of the wealth and investment management division at Barclays, will take on the role in April having spent 24 years at the FTSE 100 bank.
At Barclays, he was responsible for more than £180bn of assets as part of the wealth management business.
Mr Horrell will effectively be the group’s fourth UK managing director in three years, after Gary Shaughnessy left to join rival Zurich in 2012 and Mr Mullan, who took on the role, left earlier this year.
In the interim, the job has been filled by James Burton, chief marketing officer, personal investing at Fidelity Investments in the United States, who has been on assignment as interim managing director for the UK since March.
Thomas Balk, president, financial services at Fidelity, said Mr Horrell had the “breadth of experience and talent to ensure that we complete our investment programme and transform our business into the best customer-focused financial services business in the UK”.
