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Executive Moves


Petrozzo, DePoalo New CIOs at Fidelity

Daniel Petrozzo has been named new chief information officer at Fidelity Investments, and Ronald E. DePoalo is now CIO of the firm's institutional products division.

Petrozzo is the former co-global chief information officer and head of enterprise infrastructure at Morgan Stanley. He reports to Marvin Adams, president of Fidelity Shared Services. The shared services group includes Fidelity Technology Group, Fidelity Enterprise Operations, Fidelity Security, Fidelity Consulting Group and Fidelity Real Estate Co.

DePoalo is the new chief information officer of Fidelity Institutional Products Group and will report to group President Michael K. Clark, as well as Petrozzo. He was formerly managing director, chief technology officer for Merrill Lynch's Global Wealth Management. The Fidelity Institutional Products Group includes Fidelity Institutional Services Co., Fidelity Institutional Wealth Services, National Financial and Fidelity Capital Markets Services.

Evergreen Names Cieszko New CEO, Germany CIO

The money management unit of Wachovia Corp., Evergreen Investments, announced its Chief Executive Officer Dennis Ferro is set to retire at the end of this year. Ferro has been with the firm for five years and confirms that the status of the market and of Evergreen, in general, has had no impact on his retirement, which has been in talks for over a year. Succeeding him will be Peter Cieszko, who is currently head of global distribution and has been with Evergreen since July 2006.

In addition, David Germany has been appointed chief investment officer of Evergreen Investments. Germany is highly experienced, as he comes from Morgan Stanley Investment Management, where he was global head and chief investment officer of fixed income. Prior to that, Germany was an economist at the Federal Reserve. Ferro had been filling in as CIO since Chris Conkey abruptly left last August.

Three High-Profile Staffers Parting Ways with ICI

Three high-profile staff members at the Investment Company Institute have already left or are planning on leaving the mutual fund lobbying group in the near future. The individuals parting ways with the ICI are: Leslie Kramerich, a Capitol Hill lobbyist who worked specifically on 401(k) fee legislation, Dan Crowley, head of governmental affairs, and Edward Giltenan, head of media relations.

Crowley is leaving in order to potentially start his own lobbying firm, but he plans on working at the ICI until Aug. 15. Giltenan plans on returning to T. Rowe Price, where he once was head of corporate communications. Kramerich, who joined the ICI in 2005, could not be reached for comment.

Wilmington Trust Selects Hobby as Boston President

Wilmington Trust Corp. has hired Roger Hobby to be president of Wilmington Trust FSB, New England. Hobby was the president of Fidelity Investments' family office services group. He had worked for Fidelity in Boston for 19 years and was named president of the family office services group last year.

Hobby now manages Wilmington Trust's Boston office, which operates throughout the northeastern U.S. Its services include private banking, investments, fiduciary and family office. Wilmington Trust opened its Boston office last year through the purchase of Bingham Legg Advisers LLC.

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