Fidelity Investments has promoted Jacques Perold from chief operating officer of its asset management unit to chief of the $1.4 trillion division. Meanwhile, Michael Wilens, the former head, has moved over to the retirement unit  as head of client management, reporting to Abigail Johnson, head.

Perold, who has only been with Fidelity since May and replaced Robert Reynolds, who left in 2007, is the fifth executive to head up the asset management unit since 2005.

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