The latest moves in wealth management across the Europe, Middle East and Africa.

Fidelity 
Fidelity International is promoting Steve Ellis to global chief investment officer to head up fixed income. He will assume the role on January 1 next year, taking over from Charles McKenzie who retires in December.

Ellis joined Fidelity in 2012 as the portfolio manager for emerging market debt, where he played a pivotal role in building its $6 billion EM debt franchise, the group said.
Prior to this, he worked as a portfolio manager at Goldman Sachs asset management and has 25 years’ investment experience. 

He will report to Bart Grenier, global head of asset management at the privately held firm, and hands over portfolio duties to Paul Greer and Eric Wong, who currently co-manage with him.

Grenier said the fixed income business, which had $85 billion under management for clients globally at the end of the third quarter, has played a central role in the firm’s growth and diversification in recent years, and Ellis’ appointment will help accelerate those efforts.

Mercer
Global consultancy Mercer has appointed Benoit Hudon as its new head of wealth in the UK. Hudon will be responsible for putting the firm’s wealth strategy into action at pensions, investment consulting and other specialist segments.

Prior to this, Hudon was Mercer’s Global Defined Benefit leader and he has held a number of senior roles at the firm, working in areas such as risk management.