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Fidelity Hires New CIO

Firm ransacks Morgan Stanley, Merrill to fill two top IT positions.

Fidelity Investments announced today that it's hired a new chief information officer, Daniel Petrozzo, who will start in late July. Petrozzo was formerly co-global chief information officer and head of enterprise infrastructure at Morgan Stanley. He replaces Steve Elterich, who fulfilled a similar role as president of Fidelity's Technology Group until earlier this year, when he retired from day-to-day responsibilities, although he still acts as a consultant to the group.

Petrozzo will lead overall enterprise technology strategy and oversee the delivery and support of internal and customer-facing technologies. He will report to Marvin Adams, president of Fidelity Shared Services, which is comprised of Fidelity Technology Group, Fidelity Enterprise Operations, Fidelity Security, Fidelity Consulting Group and Fidelity Real Estate Company.

As Morgan Stanley's co-global CIO, Petrozzo managed Morgan Stanley's IT personnel across all business units and was responsible for the firm's overall technology infrastructure. He has also worked at AT&T, StorageApps and Deutsche Bank.

Fidelity also announced today the hire of Ronald E. DePoalo, former managing director and CTO for Merrill Lynch Global Wealth Management, as CIO of Fidelity Institutional Products Group. He will report to Michael K. Clark, president of Fidelity Institutional Products Group, and Petrozzo.

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