Fidelity Investments of Boston has undergone a restructuring that will affect at least four top-level executives, including the firm's vice chairman, as well as roughly a dozen departments. Although the Boston behemoth is characteristically tight lipped about the reasons for the changes, observers, meanwhile, say Fidelity may be trying to focus on more lucrative business units in an effort to boost revenues.

Fidelity, which runs America's largest fund complex, issued an internal memo, late last month saying that it had reshuffled top executives between departments and altered their job descriptions, said Vin Laporchio, a Fidelity spokesman.

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