As a CIO, Flaherty will manage the business management and administration of all the investment management-related activities for Fidelity and Pyramis’ London-based fixed income investment team.

He will report to Fixed Income president Charlie Morrison and will also be responsible for implementing the US Fixed Income business’ long-term strategic goals and annual operating plans.

Morrison said the appointment of Flaherty reinforces their commitment to expand their global capabilities in non-US dollar securities analysis and portfolio management.

Flaherty was previously Fidelity’s research for municipals MD since 2005 and has also been a key contributor to building and managing the company’s London-based fixed income research team.