Bullen leaves Fidelity; Cheng promoted

Philip L. Bullen, a senior vice president and CIO of the large-cap core and capital appreciation fund groups at Fidelity Investments, will leave the company later this month to pursue other interests, said spokesman Adam Banker. There were no further details on Mr. Bullen’s plans. Asked if Mr. Bullen will be replaced, Mr. Banker said Fidelity is “evaluating the role” but has nothing to announce at this time. Separately, Ren Y. Cheng was promoted to CIO of lifecycle and asset-allocation funds at Fidelity Investments overseeing $130 billion in assets, according to a news release. It’s a new position. Mr. Cheng was a portfolio manager for Fidelity Freedom Funds and Fidelity Advisor Freedom Funds; he will continue to manage the Freedom Funds’ 12 portfolio managers and analysts. Christopher L. Sharpe was named co-manager of the Fidelity Freedom Funds and Fidelity Advisor Freedom Funds, succeeding Mr. Cheng.