Fidelity Investments has promoted two of its bond portfolio managers, Kevin Grand and Ford O'Neil, to take over for Charles "Mac" MacBride, the firm's former senior investment director who oversaw sector allocation for institutional core fixed-income. MacBride left late last month to join Prudential Fixed Income as a senior investment officer. John Brockelman, spokesman for Fidelity in Boston, said Grand and O'Neil are co-heads of sector and asset allocation and will continue to report to Charlie Morrison, head of institutional and retail bond management.
Grand now runs Fidelity's investment-grade bond fund, the Spartan investment-grade bond fund, and the firm's total bond fund, while O'Neal runs six different bond funds, including the firm's intermediate-term bond fund, its U.S. bond index and some variable annuity bond funds.