Home ListingOctober 16, 2015

Fidelity Folds Pyramis into New Institutional Provider

Say hello to Fidelity Institutional Asset Management, a creation consolidated from Pyramis and several other divisions.

Reported by Featured Author

Fidelity Investments has combined a number of its institutional units—including Pyramis Global Advisors—into a new full-service distributor to asset owners and consultants.

Fidelity Institutional Asset Management comprises the client service and sales teams from Pyramis and Fidelity’s advisor-oriented business, plus the consultant relations group from the parent company’s professional services line.

The young organization enters the marketplace with more than $450 billion under administration, Fidelity said, making it one of the largest players serving institutions.

“Aligning our institutional sales and service capabilities into one business under a single leader expands and strengthens Fidelity’s commitment to the institutional marketplace,” said Gerard McGraw, president of Fidelity Institutional, in the announcement.

The re-organization, he continued, will help to “leverage Fidelity’s broad and deep institutional resources” while “providing a deeper, more coordinated service experience.”

The Pyramis investment specialists will remain within Fidelity’s asset management organization, only without their prior brand. Fidelity stipulated there would be “no changes to the institutional investment team,” which will remain under the leadership of CIO Pam Holding.