(Bloomberg) -- Fidelity Investments, the mutual- fund firm best known for its star stock pickers since it was started almost seven decades ago, named former bond manager Charles Morrison to run its asset-management unit.

Morrison, 53, who joined Fidelity in 1987 as a bond analyst, most recently was head of Fidelity’s $750 billion fixed-income division, the Boston-based company said today in a statement. He will succeed Ronald P. O’Hanley, who said in January he will step down from his role at the end of this month.

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