by Meridith Levinson

Marv Adams Has Left Citi and Joined Fidelity

Dec 06, 20072 mins

A tipster e-mailed to me last night a memo that Fidelity President Roger Lawson allegedly* sent out announcing the investment company’s hire of Marv Adams as president of Fidelity’s newly created shared services organization. Adams, 50, most recently worked for Citigroup, which he joined in the spring of 2006. With all of Citigroup’s financial and leadership woes, Adams was smart to leave that joint. Here’s a link to the press release Fidelity issued yesterday announcing Adams’ arrival. And here’s the text of the memo* my Tipster sent to me:

December 5, 2007

Dear Colleagues:

As our business relies increasingly upon robust technology solutions and operations, we need an organization that is focused sharply on effectively and efficiently taking the greatest possible advantage of our market-leading capabilities in these areas.

To that end, we have created Fidelity Shared Services — which comprises Fidelity Technology Group, Fidelity Enterprise Operations and Fidelity Real Estate Company — and I am pleased to announce today that we have hired an industry leader to serve as president of the organization.

He is Marvin Adams, who most recently was chief information officer at Citigroup, Inc., responsible for the global focus and leadership of Citigroup’s worldwide corporate technology infrastructure and systems. He led that firm’s CIO Council with responsibility for the enterprise-wide direction of information technology, and was a member of the Citigroup Management Committee.

Prior to Citigroup, Marv gained valuable experience outside of financial services, serving as senior vice president of Corporate Strategy and chief information officer at Ford Motor Company.

Previously, Marv was executive vice president and chief information officer at the then-Bank One Corporation, where he was responsible for both information technology and operations, and was head of Worldwide Engineering Systems for Xerox Corporation. Marv began his career at IBM Corporation, where he held a variety of positions in Hardware and Systems Engineering.

Reporting into Marv will be the Fidelity Technology Group under Steve Elterich, Fidelity Enterprise Operations under Ray Marcinowski, and Fidelity Real Estate Company under Sarah Abrams. These groups have been doing an outstanding job for Fidelity and our customers, and I know Marv is looking forward to working with them.

Please join me in welcoming Marv to Fidelity and in wishing him great success in his new role.


Rodger Lawson

*I have not yet validated the authenticity of this memo.

Update 12/6/07 1:43 PM ET: The memo is authentic, according to a Fidelity spokesperson.