Fidelity has appointed Romain Boscher from Amundi as global chief investment officer, equities, replacing Dominic Rossi who has stepped back for a part-time role.
Boscher joins Fidelity from Amundi, where he has worked as head of equities for the past seven years.
He will start at the end of April and report to Bart Grenier, global head of asset management, and also be a member of the Global Operating Committee.
Boscher will take over from Rossi, who announced last year that he would be taking a step down from his CIO responsibilities after ten years in favour of a part-time role. This will see him work as a special adviser on public policy initiatives within the firm.
Fidelity's equity portfolio management teams led by Paras Anand (CIO equities, Europe), Takashi Maruyama (CIO equities, Japan) and Tim Orchard (CIO equities, Asia Pacific ex-Japan) will all report into Boscher, as will the global equity research function led by Henk-Jan Rikkerink.
Grenier said: "Romain is an investor with an exceptional track record. He has worked at a global level, running large teams and delivering exceptional performance for many years.
"Our equities franchise is a significant part of our business and we are passionate about delivering great active returns for our clients.
"I am delighted to welcome someone of such calibre into the company and I know that our equities franchise will continue to thrive and develop for the benefit of our clients under his leadership."
Meanwhile, Amundi has promoted Diego Franzin, who was previously head of equities at Amundi Pioneer, as Boscher's replacement.
Franzin will be responsible for the portfolio management teams in this asset class including European equity, global equity, volatility, convertible bonds, equity overlay solutions, thematics and Japanese equity.
Raised over £167,000
Luxembourg to become head office for EU business
Net issuance reached $473bn in 2017
As a result of changing environment
Created following FCA probe