Fidelity Investments, the nations biggest mutual fund complex, said on Monday it has reshuffled its portfolio management team for three of its Select funds.
The Boston-based firm wrote on its Web site that Heather Lawerence succeeded Peter Hirsch as manager of the $476 million Fidelity Select Banking Portfolio. Previously, Lawerence ran the $40 million Fidelity Select Transportation fund. Christopher Bartel took over the reins for Alex Sacerdote at the Fidelity Select Defense and Aerospace fund, a no-load offering with $336 million in assets under management.
Elsewhere, Anna Mehra has replaced Robert Bao as manager of the firms $32 million Select Automotive Portfolio. He will continue to manage Fidelity Select Paper and Forest Products Portfolio, which he has managed since February 2004. Prior to joining Fidelity in 2002, Mehra was a pension-consulting actuary at Towers Perrin, a human resources consulting firm in Houston.
Fidelity did not return calls by press time seeking comment on the fates of Hirsch, Sacerdote and Bao.