Mr Clougherty will be responsible for the Fidelity’s UK retail business which distributes funds via wholesale and intermediary channels.
He will have accountability for asset gathering, financial performance, product development and promotion of Fidelity’s wholesale activites.
Ben Waterhouse, head of UK retail sales, will report to Mr Clougherty and continue to be responsible for distribution.
Mr Clougherty has previously worked for Fleming Asset Management, Merrill Lynch Investment Managers and Skandia Investment Management.
Hugh Mullan, UK managing director, said: “John’s wide-ranging experience across the industry means he is extremely well-placed to drive Fidelity’s retail business forward at a time of great change and opportunity in fund distribution.
“Our retail business is already a substantial player with assets of approximately £32bn and I am confident that John will deliver the full potential of our significant product offering to our existing and future intermediated customers.”
Mr Clougherty will join Fidelity on 11 June.