Richard Horlick was named global head of institutional business at Schroders, a new position, and Mark Pignatelli was named CIO. Mr. Horlick was president of Fidelity Management & Trust and previously headed Fidelitys U.K. operations. "Were very sorry to be losing Richard, but his decision is based on family reasons, because they wanted to move back to the U.K., said Ann Read, Fidelity spokeswoman. Fidelity had no positions available for Mr. Horlick in Britain, she said. Fidelity is searching for a replacement, said Scott Beyerl, spokesman. Christopher Keating, executive vice president of sales, is handling Mr. Horlicks duties in the interim. Mr. Horlicks move follows the departure earlier this week of Phillippe Nahum, president of Fidelity Investissements, the companys French subsidiary. Mr. Pignatelli was head of European equities at Schroders; he will be replaced by Olaf Siedler, a member of the European equities team.