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Rating:Top Mutual Fund Gatekeeper Leaves Fidelity for Merrill Not Rated 5.0 Email Routing List Email & Route  Print Print
Tuesday, April 19, 2011

Top Mutual Fund Gatekeeper Leaves Fidelity for Merrill

Reported by Armie Margaret Lee

Time to update your rolodexes. The MFWire.com has learned that Paul Riley left his post as the chief gatekeeper at Fidelity's mutual fund supermarket and joined Bank of America Merrill Lynch this month. The Fidelity job is currently open.

Paul Riley
Merrill Edge
Managing Director
Riley, who was senior vice president at Fidelity FundsNetwork, is now managing director of product and strategy at Merrill Edge, the online brokerage that BofA Merrill Lynch launched last year.

Riley could not immediately be reached for comment. A Bofa Merrill Lynch was not immediately able to comment on Riley's hiring.

Fidelity is on the hunt for someone to fill Riley's former shoes.

"Typically we don't comment on former employees, but I can tell you we are actively searching for a replacement," Fidelity spokesman Steve Austin told The MFWire.com.

Riley ran Fidelity's mutual fund supermarket for seven years. Before that, he held a marketing post at Insurance.com, a Fidelity Capital company. He began his career with Fidelity in 1996 as a product manager in the Retail FundsNetwork unit.

Riley was named by The MFWire.com as one of the 50 Most Influential People in Fund Distribution in 2009 [see profile] and one of the Most Influential People in Mutual Funds in 2010 [ see profile]. 

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