Fidelity Investments has promoted Derek L. Young from chief investment officer to president of the asset allocation division. He succeeds Boyce L. Greer, who recently became head of institutional investments for Fidelity Asset Management and vice chairman of Pyramis Global Advisors. Young now reports to Greer.

The $364 billion unit provides a broad range of services to clients, including global asset allocation research, multi-asset class portfolio construction, third-party manager research, risk management and financial planning.

"A 15-year Fidelity veteran, Derek is a proven leader with extensive experience managing investment activities on behalf of retail and institutional clients across multiple asset classes," Greer said. "Derek will lead a talented team that will continue to focus on providing Fidelity's institutional, intermediary and retail clients with the innovative multi-asset class and custom solutions they need to help achieve their distinct investment goals."

Young joined Fidelity in 1996 as director of risk management for Fidelity Management Trust Co. Since then, Young has held a variety of positions with increasing levels of responsibility and management oversight, including senior vice president of strategic investment services and marketing for Fidelity Management Trust Co.

Before joining Fidelity, Young was a manager in the risk strategy consulting practice at KPMG. From 1991 to 1995, he worked at the Board of Governors for the Federal Reserve as a senior financial analyst. He began his career as a vice president at Empire Financial Services in 1986.


Kennedy Capital Adds Baker to Compliance Team

Kennedy Capital, which serves high-net-worth individuals, pension funds, endowments and foundations, has hired Nikki Baker as a compliance analyst, responsible for completing a variety of regulatory and compliance reports, as well as the periodic testing of compliance-related policies, procedures and controls. Baker reports to Vice President and Chief Compliance Officer Marilyn Lammert.

Baker comes to Kennedy Capital from Scottrade. She also held finance manager positions for three St. Louis automotive groups.

"Fostering an active and effective compliance program is extremely important to all of our team members and to our clients," said Randy Kirkland, president and chief executive officer of Kennedy Capital. "Nikki has a wide range of experience in finance and in the financial services industry and is well-suited to serve on our compliance team. We are highly confident that she will prove to be a strong contributor and demonstrate a high level of commitment to the culture of compliance that we've fostered throughout our 30 years in business."


Wells Fargo Hires Four With $568M in Assets

Wells Fargo Advisors has hired four new financial advisers overseeing about $568 million in customer assets in Michigan.

In Northville, Mich., Wells Fargo has hired Daniel Murphy and Gregory Wright from UBS Financial Services.

Murphy had been employed with UBS since April 1988, according to his public registration records with the Financial Industry Regulatory Authority. He previously had $2.09 million in annual fees and commissions and $301 million in assets under management.

Wright had served at UBS since September 1989, FINRA records show, and had $869,282 in annual production and $135.92 million in assets under management.

In Ann Arbor, Mich., Wells Fargo has hired Neil Weissman and Ronald Eppler from broker-dealer Telemus Investment Brokers LLC. Together, they previously had $1.41 million in annual fees and commissions and oversaw $131.45 million in client assets. Weissman had been registered with Telemus since June 2008, according to FINRA records, while Eppler had been employed with that firm since December 2006.


Threshold Group Lands Chief Investment Officer

Threshold Group has hired Ronald Albahary as its new chief investment officer. The 20-year investment management veteran will be responsible for providing strategic leadership and team management of the Philadelphia-based private wealth management firm's advisory services group.

Albahary previously served as CIO at Convergent Wealth Advisors and held investment leadership positions at Schroder Investment Management, SEI and Merrill Lynch.

Albahary will also help guide overall strategic direction with a seat on Threshold's leadership team. He will join Threshold's office in Philadelphia and have direct contact with clients nationally.

"We are genuinely gratified and excited to have Ron joining our team because he offers that rare balance of investment insight and common sense that our clients and our associates so appreciate," said Ed Lazar, Threshold president. "Ron is both grounded and creative in his thinking, and he will lead a passionate investment team that has generated real value for our clients during nearly every type of market environment imaginable."

Albahary succeeds Ernie Ankrim, who served as Threshold's interim CIO earlier this year, after retiring as chief investment strategist at Russell Investments.

"I am energized by the opportunity to build upon the Threshold culture of client service, risk-sensitive investment strategies and unconstrained innovation focused on meeting client goals," Albahary said.

He continued: "While Threshold is a young and growing firm, it has already established a respected reputation for understanding increasingly volatile markets and, as a result, successfully navigating clients through turbulent times."

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