Fidelity Investments taps Citi tech chief Adams

Fidelity Investments taps Citi tech chief Adams

US mutual fund manager Fidelity Investments has named Citigroup's chief information officer (CIO) Marvin Adams as president of its shared services division, which includes its technology, operations and real estate units.

As CIO at Citigroup, Adams, 50, was responsible for the global focus and leadership of the bank's worldwide corporate technology infrastructure and systems. He led the CIO Council with responsibility for the enterprise-wide direction of IT and was a member of the bank's management committee.

Admas joined Citigroup from Ford Motor Company where he was senior vice president of corporate strategy and CIO. Prior to joining Ford in 2000, Adams was EVP and CIO at Bank One Corporation, where he was responsible for IT and operations.

From 1991 to 1994, Adams headed worldwide engineering systems at Xerox Corporation. He began his career at IBM, where he held a variety of positions in hardware and systems engineering.

In his new role Adams will oversee Fidelity's 12,000-person shared services division. The unit comprises of the firm's technology group - which manages and support the technology infrastructure and develops and maintains customer and client Web sites - as well as Fidelity's enterprise operations and real estate company.

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