Fidelity appoints new MD

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Fidelity Worldwide Investment today announces that Michael Bargholz has been appointed as managing director, Australia.

Bargholz joined Fidelity in February as senior investment director after a lengthy career with AllianceBernstein, where he was CEO and managing director, Australia and New Zealand. Prior roles include managing director of AXA Investment Management in New Zealand and investment strategist and chief economist for AXA Australia. Bargholz, who will report to Asia Pacific ex-Japan managing director Mark Talbot, takes up his new position with immediate effect.

 “It’s a privilege to serve in this role for an outstanding global firm and I look forward to contributing to the continued successful growth of the company in Australia,” Bargholz said.

Talbot said, “Michael will lead our growing and successful business supported by a strong management team. His knowledge and experience of the market, built up over many years, will ensure that we continue to focus on the needs of our clients as we broaden and deepen the reach of our business over the coming years.”

Fidelity’s Australian business has grown steadily in recent years and now manages client assets of over $11bn. The company plans to broaden its product range and to offer fixed income funds as part of its growth strategy, which is unchanged as a result of today’s announcement.

Check out next week's newsletter, where Michael Bargholz discusses his vision for the future, with Wealth Professional.