Fidelity Investments® Names Nancy D. Prior President of $750 Billion Fixed Income Division

BOSTON -- Fidelity Investments® today announced the appointment of Nancy D. Prior as president of the company’s Fixed Income division and vice chairman of Pyramis Global Advisors.

In this role, Prior will oversee Fidelity’s global Fixed Income division, which includes the company’s Bond and Money Market divisions. She will report to Charlie Morrison, president of Fidelity’s $1.9 trillion Asset Management organization.

Headquartered in Merrimack, New Hampshire, Fidelity’s Fixed Income division manages more than $750 billion in assets on behalf of retail, intermediary and institutional clients globally.i

Prior most recently served as president of Money Markets and Short Duration Bonds. She succeeds Morrison, who was appointed president of Asset Management in February 2014.

“A 12-year Fidelity veteran, Nancy has proven herself to be an exceptional leader,” said Morrison. “As a member of the Fixed Income senior leadership team for the past three years, Nancy has skillfully managed our Money Market business through one of the most challenging market environments in recent memory, all the while balancing the demands and needs of our clients. She will work closely with the incredibly talented teams already in place across our bond and money market groups to continue our focus on delivering strong, risk-adjusted performance for our clients and shareholders.”

Morningstar recently noted that “Fidelity’s fixed income group is among the best in the industry, taking a risk-conscious, team-oriented approach that’s produced strong long-term results.”ii

Prior has been president of Money Markets since 2011. She expanded her responsibilities in 2013 to oversee the Limited Term Bond team, which manages portfolios that invest in diversified fixed income assets ranging from ultra-short to intermediate maturities.

Before heading Money Markets, Prior was managing director of Credit Research from 2009 to 2011, where she was responsible for leading a team of research associates in the financial sector. Prior joined Fidelity in 2002 as a senior legal counsel for Fixed Income, eventually rising to senior vice president and deputy general counsel. Before joining Fidelity, she was general counsel at Advantage Schools Inc. and an attorney at Mintz Levin in Boston.

“Fixed income markets are growing and changing rapidly, driven by shifting demographics, regulatory changes and an increased interest in outcome-oriented solutions,” said Prior. “I’m very excited to lead Fidelity’s exceptional Fixed Income team during a time when investors are actively seeking a trusted, stable provider that can bring innovative solutions that reflect sound judgment and appropriate risk levels for today’s dynamic investing environment.”

About Fidelity Investments
Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $4.5 trillion, including managed assets of $1.9 trillion, as of January 31, 2014. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit www.fidelity.com.

i As of December 31, 2013.
ii Reichart, Katie Rushkewicz. “Fidelity Names New Head of Asset Management.” Morningstar.com February 20, 2014. http://www.morningstar.com/advisor/t/87732836/fidelity-names-new-head-of-asset-management.htm#axzz2uLpp5MrK

Past performance is no guarantee of future results.

Investing involves risk including the risk of loss.

An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk, liquidity risk, call risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Fidelity, Fidelity Investments, and Fidelity Investments and the Pyramid Design logo are registered service marks of FMR LLC.

Fidelity Brokerage Services LLC, Member NYSE, SIPC
900 Salem Street, Smithfield, RI 02917

Fidelity Investments Institutional Services Company, Inc.
500 Salem Street, Smithfield, RI 02917

National Financial Services LLC, Member NYSE, SIPC
200 Seaport Boulevard, Boston, MA 02110

680931.1.0
© 2014 FMR LLC. All rights reserved.