Fidelity’s chief investment officer for multi-asset is leaving the business, with the role under review ahead of the arrival of Andrew McCaffery in August.
James Bateman, Fidelity's chief investment officer for Fidelity International’s multi-asset business, has announced he is leaving the company to start his own venture.
Meanwhile Mr McCaffery is joining Fidelity from Aberdeen Standard Investments in August in the role of global chief investment officer for alternatives and solutions.
A Fidelity spokesman said: "He will leave after a short handover period and remain on gardening leave until October. We would like to thank James for his contribution to the investment team and wish him every success in his new endeavours.
"Riju Sathyan, chief operating officer for multi-asset, will run the team in the interim alongside Bart Grenier, global head of asset management, until Andrew McCaffery joins us in early August. Andrew will then work to determine next steps regarding the role as he gets to know the team better.”
Mr McCaffery worked at Aberdeen Standard Investments as head of absolute return strategies in 2006, left in 2008, then rejoined in 2011 and has worked there since.
Mr Bateman has worked at Fidelity for seven years, and prior to that worked at Barclays Wealth Management and Northern Trust.
He became chief investment officer for multi-asset two years and 11 months ago, and prior to that was head of portfolio management.
Darius McDermott, managing director at Chelsea Financial Services, said: "Fidelity have a very well resourced multi-asset team, with a lot of experienced people working across a lot of different types of funds, including experienced people such as Bill McQuaker."
david.thorpe@ft.com
