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Article: Hondros exits Fidelity for rival PBHG Led mutual fund giant into supermarket concept
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- September 25, 1997
- Author:
CopyrightCopyright 1997 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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Paul Hondros, who pushed Fidelity Investments to sell mutual
funds from rival companies, yesterday said he was resigning to go to
work for a competitor.
Hondros, president of Fidelity's retail group, was named
president of Pilgrim Baxter & Associates, manager of the PBHG family
of mutual funds. Pilgrim is based in Philadelphia, Hondros's
hometown.
Hondros will be succeeded by James Curvey, Fidelity's chief
operating officer, until a full-time replacement is named. Analysts
speculated that one likely candidate for the retail group job would
be Robert Mazzeralla, now head of the discount brokerage operation.
"He's a big loss for Fidelity," said Donald Dion of Hondros.
"He was ...