Smail Retires from Pyramis Post

Peter J. Smail, president of Fidelity Investments’ institutional investment management business, is retiring from his post, the financial services firm announced.

A Fidelity news release said Smail would stay in his post at Pyramis Global Advisors through the end of the first quarter while a search for a permanent replacement is conducted.

Fidelity President Rodger A. Lawson said in the announcement that Smail would continue after that as a consultant to the company and a member of the Pyramis Global Advisors Trust Company Board of Directors.

Smail, 55, joined Fidelity in 1987 as vice president of operations for Fidelity’s 401(k) business and was instrumental in its growth. He became president of that business nine years later, added HR outsourcing to his portfolio in 2000 as head of Fidelity Employer Services Company, and launched Pyramis Global Advisors as its president in 2005, the company said.