Fidelity Investments Canada ULC (Fidelity Canada) Friday announced that David Wolf, a former policy advisor to the governor of the Bank of Canada, will be joining the Fidelity Canadian asset allocation portfolio management team, effective immediately.

Wolf will be named as portfolio manager alongside Geoff Stein and Derek Young in managing Fidelity Canadian Asset Allocation Fund, Fidelity Monthly Income Fund, Fidelity Monthly Income Class, Fidelity Dividend Fund and Fidelity Income Allocation Fund.

Stein continues as lead portfolio manager on these funds.

Wolf joined the Fidelity Investments organization in September 2013.

“Fidelity’s culture of meritocracy is built on attracting, retaining and motivating the best talent in the industry. David brings a tremendous depth of global financial market insights and experience. His extensive knowledge of the Canadian marketplace and global economic trends will bring additional perspectives and knowledge to Fidelity’s clients,” said Rob Strickland, President, Fidelity Canada.

From 2009 to 2013, Wolf served as advisor to the governor of the Bank of Canada, and served as secretary to the Governing Council for Monetary Policy at the Bank of Canada. As secretary, he oversaw the analysis supporting the monetary policy decision process and acted as editor in chief for the Monetary Policy Report. In addition, he served as a representative of the Bank of Canada on a number of international bodies, including the G20, the International Monetary Fund and the Organization for Economic Co-operation and Development.

Prior to his work for the Bank of Canada, Wolf served as the head of Canadian economics & chief strategist for Merrill Lynch Canada from 2005 to 2009, where he was responsible for fundamental analysis and asset allocation strategy. Previously, he served as the chief interest rate strategist & senior economist for RBC Capital Markets, where he worked from 1997 to 2005.

Derek Young will continue in his role as a portfolio manager alongside Stein and Wolf until March 31. Young will continue as president of Fidelity’s global asset allocation division, which manages close to $500 billion worldwide, including over $40 billion of Fidelity’s Canada’s asset allocation strategies.