Former AllianceBernstein chief executive Michael Bargholz has been appointed to the role of managing director of Australia, effective immediately, having joined Fidelity in February as senior investment director.
His move followed a lengthy career with AllianceBernstein where he was CEO and managing director, Australia and New Zealand. His prior roles include managing director of AXA Investment Management in New Zealand and investment strategist and chief economist for AXA Australia, FIL stated.
Mr Bargholz will report to Mark Talbot, managing director, Asia Pacific ex-Japan.
“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,” Mr Bargholz said.
Mr Talbot said Mr Bargholz will lead the 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,” Mr Talbot said.
Fidelity’s Australian business has grown steadily in recent years and now manages client assets of more than $11 billion, the company stated. Fidelity plans to broaden its product range and to offer fixed income funds as part of its growth strategy, which remains unchanged as a result of today’s announcement.
