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

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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 globally1.

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 results2."

Fidelity Appoints Nancy D. Prior President of Fixed Income

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 https://www.fidelity.com.

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