Peter Hadden and Steve Oler , portfolio managers at Pyramis Global...

Peter Hadden and Steve Oler, portfolio managers at Pyramis Global Advisors, together replaced James Rutherford in overseeing the European portion of the international growth equity strategy at the institutional investment unit of Fidelity Investments, said Steve Austin, Fidelity spokesman. Mr. Rutherford left "to pursue new and different challenges for the next part of his career," Mr. Austin said. He had no further details, and there was no immediate information on where Mr. Rutherford could be reached. Messrs. Hadden and Oler came to Pyramis in 2005 from Putnam Investments, where they were portfolio managers for that firm's international equity strategies.

Terry Mellish, head of U.K. institutional business for asset management at Credit Suisse, will leave the firm at the end of the month "to pursue another opportunity outside the firm," said Wesley McDade, a Credit Suisse spokesman in New York. John Kremer, the newly appointed head of institutional distribution for Europe, will take on Mr. Mellish's day-to-day responsibilities until a replacement is recruited, Mr. McDade said. Mr. Mellish would not comment. He has been with the firm since October 2004.

David Fann joined Pacific Corporate Group as a managing director in the firm's asset management group, according to a company spokesman who declined to be identified. In addition, Michael Underhill, a managing director who was in charge of new business development, left the firm on Monday; he has not been replaced. The spokesman had no information about Mr. Underhill's plans. Mr. Fann was founder of Inflection Equity Partners, a small-cap buyout firm that started raising its first fund in April. Inflection will cease operation in the near future, the spokesman said. Further details could not be learned by press time.

William Cunningham was named senior vice president of fixed-income research for State Street Global Markets, confirmed spokeswoman Carolyn Cichon. It is a new position. He will report to Mark Marinella, executive vice president and global head of fixed-income research, sales and trading. Mr. Cunningham was founder, CEO and CIO of Breakaway Capital Advisors, a credit hedge fund and independent research firm. The firm has been closed because Mr. Cunningham wanted to pursue this opportunity, he said.