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.

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