Fidelity hires former iShares executive in ETF push: report

BOSTON Thu Feb 14, 2013 10:37am EST

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BOSTON (Reuters) - Mutual fund manager Fidelity Investments has hired Greg Friedman, a former top exchange-traded fund executive at BlackRock Inc, the website Ignites reported on Thursday.

The hiring comes as Fidelity prepares to introduce a family of ETFs, hoping to make a splash in the fast-growing segment of the funds business which the Boston firm has largely ignored until now.

Friedman was most recently chief operating officer and head of product development at Russell Investments, which decided to end its ETF program last year. Friedman joined Russell in 2010 after more than a decade with iShares, BlackRock's industry-leading ETF unit.

A Fidelity representative had no immediate comment.

(Reporting by Aaron Pressman; editing by Matthew Lewis)

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