FundsNetwork boss David White quits Fidelity

Fidelity Worldwide Investment has appointed Hugh Mullan as its new head of FundsNetwork to replace David White who has left the company.

Mullan will continue to also be head of Fidelity’s UK defined contribution and retail business.

White has left Fidelity after 10 years and was most recently responsible for developing FundsNetwork’s unbundled platform charging structure.

He was appointed head of FundsNetwork in June 2011 as a part of a strategic shake-up at Fidelity and was also previously head of UK retail marketing.

Paul Richards has been appointed deputy head of FundsNetwork in addition to his existing role at head of FundsNetwork sales, pending a long-term replacement for White.

Mullan said: ‘It is with regret that I have accepted David’s decision to move on after 10 successful years with Fidelity. David has led FundsNetwork with skill during a key period leading up to the retail distribution review (RDR).

'He leaves the business extremely well-positioned for the post-RDR environment and I am confident that FundsNetwork will continue to play a leading role in the UK’s fund platform industry which it pioneered more than a decade ago.’