Charles Morrison was named president of Fidelity Investments' asset management unit, spokesman Jeffrey Cathie confirmed in an e-mail.
Mr. Morrison replaces Ronald P. O'Hanley, who plans to leave the firm at the end of February.
Mr. Morrison will oversee Fidelity's investment divisions on behalf of individual investors, intermediaries, and institutions worldwide. He will report to Abigail P. Johnson, president of parent Fidelity Financial Services.
Mr. Morrison was president of the fixed-income division at Fidelity Investments. The firm expects to name an internal successor to head fixed income in the next few weeks.