Mass. Money Manager Hires a Fidelity Exec

Affiliated Managers Group, a private holding company of money management firms, has raided Fidelity Investments for a chief financial officer.

Brian J. Girvan left the Boston-based mutual fund company's Fidelity Investments Institutional Services arm last month after a year and a half as its chief financial officer. He started work at AMG, also of Boston, on Feb. 3. A spokeswoman said Fidelity would likely fill the position internally.

Mr. Girvan said he was attracted to AMG because of its unusual business model. Founded in 1993, it owns minority stakes in seven money managers that have a combined $20 billion under management.

"At Fidelity you work in a business unit, and you're focused on product and cost control," Mr. Girvan said. "This has more to do with capital markets, acquisition accounting-and it's more fun, too."

Before joining Fidelity, Mr. Girvan, 41, had spent 12 years with Pimco Advisors LP and its predecessor, Thomson Advisory Group LP.

AMG executives had split the duties assigned to Mr. Girvan. Growth spurred the creation of his job, according to senior vice president Lee Chertavian, who said AMG is looking for more ways to raise capital.

"We started out with private capital, then went into bank debt. We could potentially even go into the public market at some point," he said.

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