Fidelity International, the London-based affiliate of the US mutual fund manager, has moved a second senior executive from its asset management business to its multi-manager arm, which invests in funds run by other companies.

Geraldine Stewart, who has worked at Fidelity since 1990 and has been head of research since 2002, has moved to be head of investments of the multi-manager unit, where she will build a team of analysts.