Jack McNamara, a pension industry veteran, retired April 30 as president and chief executive officer of Fidelity Management Trust, Boston.
Mr. McNamara, who began his career as an equity analyst with the National Bank of Detroit in 1967, said he hoped to remain involved with the industry as a consultant or director, but not on a full-time basis.
"If I have a skill," he said, "it is that I understand how to build a business and run a business in this industry."
He moved from the National Bank of Detroit to Alliance Capital Management in 1973 and became a portfolio manager. In 1980, he joined Endowment Management & Research, Boston, which was owned by Baring Brothers, as a portfolio manager. Then he became director of marketing at Baring International Investment, selling international investment to pension funds, helping the firm become one of the largest international managers.
When he left Baring in 1992 he was managing director of Baring Asset Management Ltd. where he oversaw Baring International, Investment, Baring America (formerly EM&R), a captive insurance company and a real estate company.
From Baring Asset Management, he joined United Asset Management Corp., Boston, as executive vice president and chief operating officer. He joined Fidelity Management Trust in June 1998.
"I've seen the business as an analyst, a portfolio manager, a marketer and a manager," Mr. McNamara said. "I saw it grow from a defined benefit business dominated by a few trust banks to a defined contribution business where the participants have been empowered. It's been exciting."
However, he said, he began to think about slowing down, and he and his wife decided it was time for him to retire. "Since I decided to retire I've been sleeping through the night," he said.