Fidelity replaces outgoing head of investment trusts

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Fidelity International Alex Denny is taking over as head of investment trusts on the retirement on Nicky McCabe.

Denny was previously director of investment trusts, but will now takeover developing and delivering business strategy and heading the team responsible for day-to-day management.

McCabe will remain on the board of Fidelity Special Values and will pursue a non-executive director career.

Denny, who has been at Fidelity for a decade, says he looks forward to building on McCabe’s work and enhancing the company’s investment trust offering.