Fiduciary Trust Company, a private wealth advisor and investment management firm for high-net-worth families, individuals and non-profits, announced today that Peter Andersen has joined as Chief Investment Officer (CIO).

Andersen joins Fiduciary Trust from Congress Wealth Management, where he has served as Chief Investment Officer since 2003. He was also a portfolio manager with Congress Asset Management, an affiliated firm. Prior to Congress, Andersen held senior roles at Delaware Investments/Conseco Capital Management and Colonial Management.

In his role as CIO at Fiduciary Trust, Andersen will be responsible for leading Fiduciary’s investment process. This includes directing the development and refinement of the firm’s investment strategies, asset allocation, third-party manager selection and client portfolio construction. Michael Mullaney, previously CIO, will move to the newly created role of Chief Investment Strategist, responsible for providing perspectives and insights on the global economy and investment markets.

“Peter brings deep investment expertise and knowledge across asset classes, strategies and markets, which will enhance our investment process,” said Austin V. Shapard, President & CEO of Fiduciary Trust. “Furthermore, I look forward to the insights Mike will continue to bring to benefit our clients in his new role.”

“I’ve been impressed by the depth of talent across Fiduciary, as well as its dedication to clients,” added Andersen. “I look forward to joining the team as we continue to serve existing and new clients.”

Andersen is a Chartered Financial Analyst and received his MPA from Harvard University, where he was a Seamans Fellow. He also earned an M.S. from Yale University, where he was a Skinner Fellow, and a bachelor’s degree from Northeastern, where he graduated summa cum laude. He is a frequent contributor to CNBC, Forbes, Barron’s, and other business publications. In addition, Peter is a member of the Boston Security Analysts Society, and serves on the Board of Overseers of the Boston Symphony Orchestra and the Executive Board of the Yale Graduate School Alumni Association.