Fidelity Investments has hired Peter Cieszko, the former president and chief executive officer of Wachovia Corp.'s Evergreen Investments, as the president of Fidelity Investments Institutional Services Co. Inc., and Ed Orazem, managing director of global wealth management for Citigroup Inc., as the president of Fidelity Family Office Services.

Mr. Cieszko will join Fidelity this month and report to Michael K. Clark, the president of its institutional products group.

In addition to his role as Evergreen's president and chief executive, Mr. Cieszko had been its president of global distribution and product management since 2006. He left Evergreen last year.

Mr. Orazem will join Fidelity in February and report to Charles G. Goldman, the president of institutional platforms for Fidelity's institutional products group.

Before joining Citigroup, Mr. Orazem was a managing director at Loeb Partners.

Fidelity Investments Institutional manages $272 billion of assets, providing its services through more than 1,000 financial institutions and 44,000 advisers.

Fidelity Family Office provides technology and wealth management products and services to nearly 70 family-office clients with more than $9 billion of assets.

Fidelity announced the hirings Tuesday.

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