Pyramis Global Advisors, Fidelity Investments’ institutional business, has established a cash management business in London to offer a suite of money market and other cash management solutions in the world’s major currencies.

To lead the business, Peter W. Knight, has joined Pyramis as head of international business development, money markets, reporting to Pyramis President Kevin Uebelein. Knight will also work with Fidelity’s U.S.-based global fixed income unit, which manages more than $730 billion in assets.

“As we continued the aggressive expansion of our global capabilities in non-U.S. dollar securities analysis and portfolio management, we are very excited to welcome an individual with the experience and talent of Peter,” Uebelein said. “Peter’s distinguished track record in successfully designing, building and leading global investment businesses will be critical in the development of our global cash business and to delivering solutions that help meet the distinct needs of institutional clients globally.”

Knight has more than 20 years of international investment experience, most recently as a consultant providing strategic and tactical advice to the global mutual fund industry. Previously, he was a managing director at HSBC Global Asset Management, and chief executive officer of its global cash business. Earlier, he was managing director at JPMorgan Fleming Asset management and CEO of its international cash and short-term investment business. Before that, Knight was a Treasury and money management executive at Fidelity International.

Knight also founded and was a president of the Institutional Money Market Fund Association.

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