In a move that will consolidate marketing functions under a single executive, Fidelity Investments last week named Stephen Cone president of its customer marketing and development unit of its personal investments and brokerage group.
Cone will join the Boston-based mutual funds company in early February from KeyCorp in Cleveland, where he served as executive vice president and chief marketing officer for the past four years.
Hill, Holliday, Connors, Cosmopulos in Boston is lead agency on Fidelity's estimated $100 million account.
"I have no plans to make any changes right now," Cone said. "It's much too premature. There are lots of good people at Hill, Holliday doing a good job, and my job is to come in and assess where we need to improve things."
Cone has held positions at Citicorp and American Express, where he oversaw domestic and international direct marketing and advertising for the company's travel-related services from 1986 to 1992. In addition, Cone was one of the first principals of Epsilon, a database marketing agency in Burlington, Mass., where he headed marketing and database management for the firm.
As a client, he has worked with such New York shops as The Lord Group, Young & Rubicam, Foote, Cone & Belding and Ogilvy & Mather as well as Boston-based Bronner Slosberg Humphrey.
At Fidelity, Cone will report to J. Gary Burkhead, vice chairman of FMR Corp. and president of Fidelity's personal investments and brokerage group. Cone said he plans to focus on enhancing employee communications and increasing existing customer loyalty.
"It doesn't mean you stop acquisitions, but look at how you can deepen relationships," he said. "That's where the big revenue is. If your customers don't love you, future customers probably won't."