Fidelity Names Former Evergreen CEO to Institutional Services Post

Fidelity Investments named Peter Cieszko, former president and CEO of Evergreen Investments, as president of Fidelity Investments Institutional Services Company, Inc.

Cieszko will join Fidelity this month and report to Michael K. Clark, president of Fidelity Institutional Products Group. “With the Institutional Products Group, we are aggressively building a market-leading organization serving a diverse set of intermediary markets that has the scale, flexibility and innovative capabilities needed to win in a turbulent and changing business environment,” said Clark, in the Fidelity announcement.

Prior to joining Fidelity, Cieszko was president and CEO of Evergreen Investments, the investment management arm of Wachovia. Since 2006, he also held the position of president of Global Distribution and Product Management at Evergreen with responsibilities for the firm’s long-term growth strategies including domestic and international sales and distribution, product development, and product management, according to the announcement. Cieszko joined Evergreen from Legg Mason, where he served as head of U.S. Distribution.

Fidelity Investments Institutional Services Company, Inc., which manages $272 billion in assets, is a provider of investment management services through more than 1,000 financial institutions and 44,000 advisers.