New Hire Roundup: BofA's Krawcheck Elected as FINRA Board Member

Fidelity Investments announced Monday that Derek L. Young had been promoted to president of the company's asset allocation division. Young succeeds Boyce I. Greer, who was recently named head of institutional investments for Fidelity Asset Management and vice chairman of Pyramis Global Advisors. Young will report to Greer.

Prior to his new position, Young was chief investment officer of Fidelity's Global Asset Allocation Group. He joined Fidelity in 1996 as director of risk management for Fidelity Management Trust Company (FMTC). Since then, he has held a variety of positions across Fidelity with increasing levels of responsibility and management oversight, including senior vice president of strategic investment services and marketing for FMTC, head of Fidelity's U.S. asset allocation committee, and comanager of numerous mutual funds, including the Strategic Fund Family and the Asset Manager Fund Family.

Prior to joining Fidelity, Young was a manager in the risk strategy consulting practice for KPMG. From 1991 to 1995, he worked for the Board of Governors of the Federal Reserve as a senior financial analyst and then as a supervisory financial analyst. Young began his career as a vice president at Empire Financial Services in 1986.

CNL Financial Group Adds Yester and Maddron

CNL Financial Group recently added to its team two executives with experience in the health care and senior living real estate sectors. Sharon Yester was named head of asset management for CNL and Kevin Maddron was named senior vice president of asset management for the health care sector.

Yester previously worked as senior vice president of asset management for CNL Retirement Properties, Inc. and subsequently as senior vice president of asset management at Health Care Property Investors, Inc., which acquired CNL Retirement Properties in 2006. At Health Care Property Investors she was responsible for a total portfolio worth more than $11 billion. Yester has more than 25 years of experience in senior living and health care, as well as experience in retail and lodging.

Maddron is also returning to CNL, where he will direct an asset management team focused on senior living and health care properties. Most recently, he served as the chief operating officer and chief financial officer for Servant Healthcare Investments, LLC, overseeing all of the company's asset management functions. Maddron had previously served in asset management roles for CNL Retirement Properties as well as Health Care Property Investors.