Fidelity strengthens Australian team, targets financial planners

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Fidelity Worldwide Investment has strengthened its Australian team with two key new appointments.

Nick McDowell will take on the role of head of wholesale sales, making him responsible for driving the development and diversity of Fidelity’s wholesale funds business through financial advisers and other intermediaries – including banks and insurance companies.

He will also provide leadership and strategic direction to Fidelity’s wholesale sales team and have account responsibilities for some of the fund manager’s largest clients. 

Nick was previously national account director for Fidelity and has over 13 years’ experience in the industry, having held senior roles at BT Investment Management, BT Financial Group and Westpac.

McDowell will report to Gerard Doherty, managing director of Fidelity in Australia.

”Our wholesale fund business has performed very well through this challenging period with positive flows and improved shelf space,” said Doherty. “There are signs that the industry is emerging from a difficult time and re-focusing on growth and we want to make sure we are well positioned to make the most of the emerging new growth.”

According to a Fidelity statement, it has increased its funds under management over the past year by more than 20% to over $10bn in its Australian, global and Asian equity capabilities.

Fidelity has also appointed a new national account manager in Mark Jordan, who was previously portfolio specialist equities for Perpetual Investment Management and has over 13 years’ experience in the industry having held roles at IWL and AXA Financial Planning.

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