Pyramis Global Advisors Announces New CEO and Expansion of Leadership Team

Mike Jones Named President and CEO; New Role Created to Focus on Delivery of Complex, Multi-Strategy Investment Solutions

SMITHFIELD, RHODE ISLAND -- Pyramis Global Advisors^®, a Fidelity Investments^® company and leading global institutional multi-asset class investment manager, today announced it has hired Mike Jones as its president and CEO. Jones will succeed Kevin Uebelein, who is taking on a new role as global head of Solutions Delivery for Pyramis.

Jones has more than 30 years of experience in the institutional investment management business. He joins Pyramis from Columbia Management, a subsidiary of Ameriprise Financial, where he served as president of U.S. Asset Management overseeing more than $326 billion in assets. In this role, Jones led Columbia’s overall relationship management and distribution strategy, which included the institutional and intermediary teams. Jones will join Pyramis in mid-March and will report to Ronald P. O’Hanley, president of Fidelity Asset Management. He will also serve as Chairman of Pyramis.

“Mike brings tremendous institutional asset management experience in both investment and non-investment activities, and will ensure that Pyramis clients are receiving the full breadth of our world-class capabilities, while ensuring that we are delivering the highest levels of service and thought leadership,” said O’Hanley. “He is a proven executive leader with an exceptional track record in understanding the needs of institutional investors and aligning a business to successfully meet those needs.”

Prior to being appointed president of U.S. Asset Management for Columbia Management, Jones was Columbia’s head of distribution, where he was responsible for global institutional and intermediary distribution. Before joining Columbia, Jones held a variety of global management positions at Robeco Investment Management, Boston Partners Asset Management and The Boston Company Asset Management.

Uebelein, who has been Pyramis’ president and CEO since 2008, will become global head of Solutions Delivery, a newly created position. In this role, he will lead the build-out of a new business drawing on key capabilities from across Fidelity to meet the rising demand for complex, multi-strategy solutions amongst institutional investors. This includes working closely with plan sponsors and consultants in the area of defined benefit de-risking. Plan de-risking is a critical and rapidly growing area of the institutional marketplace, requiring the development of custom investment solutions.

“Volatile markets, changing demographics, mediocre equity returns, and persistently low interest rates have created extraordinary challenges for defined benefit plans, and other similar plans, that require deep skills and capabilities,” said O’Hanley. “Having helped build and lead the Pyramis organization, which today serves more than 600 institutional clients in four countries, Kevin will lead Pyramis and the broader Fidelity organization in the development of solutions for our clients in this critical area. Through this focused effort, we intend to help plan sponsors manage both their current plan issues and, as importantly, implement successor plans that will help ensure a secure retirement for their participants.”

About Pyramis Global Advisors
Pyramis Global Advisors, a Fidelity Investments company, delivers asset management products and services designed to meet the needs of institutional investors around the world. Pyramis is a multi-asset class manager with extensive experience managing investments for and serving the needs of some of the world’s largest corporate and public defined benefit and defined contribution plans, endowments and foundations, insurance companies, and financial institutions. The firm offers traditional long-only and alternative equity, as well as fixed income and real estate debt and REIT investment strategies. As of December 31, 2011, assets under management totaled more than $165 billion USD. Headquartered in Smithfield, RI, USA, Pyramis offices are located in Boston, Toronto, Montreal, London, and Hong Kong.

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

Fidelity Investments Institutional Services Company, Inc., 100 Salem Street, Smithfield, RI 02917
 
Pyramis Global Advisors 900 Salem Street, Smithfield, Rhode Island, USA 02917

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