Fidelity Worldwide Investment has appointed former chief executive of Barclays’ wealth and investment arm Peter Horrell as managing director of its UK business.

Fidelity Worldwide Investment has appointed former chief executive of Barclays’ wealth and investment arm Peter Horrell as managing director of its UK business.

Horrell stepped down in June following a 23-year career at the bank following a number of high-profile comings and goings at the firm.

He will start in his new role at Fidelity on 1 April 2015, subject to normal regulatory approvals.

In the meantime, the UK business will continue to be managed by James Burton, chief marketing officer, personal investing at Fidelity Investments in the US, who has been an interim managing director for the UK since March.

At Barclays Horrell was responsible for over £180 billion ($290 billion) in assets under management. Prior to becoming CEO, he held a number of senior positions over a ten-year period managing parts of Barclays Wealth. He spent his first twelve years at Barclays in a variety of roles in the corporate bank.

“Peter Horrell and Fidelity make a great partnership. We have a substantial and successful UK business supported by a global investment organisation. Peter has the breadth of experience and talent to ensure that we complete our investment programme and transform our business into the best customer-focused financial services business in the UK,” said Thomas Balk, president of financial services at Fidelity Worldwide Investment.

In September, Barclays announced that Akshaya Bhargava is its new chief executive of wealth and investment management, taking up the role on 13 October and filling the slot vacated by Horrell. Bhargava previously worked at InfraHedge, which he founded in 2010 and which was acquired by US-listed State Street at the end of 2013.