Fidelity president O'Hanley to leave in February

In note to employees, Abby Johnson says money management unit 'performing well'

By James Comtois

Jan 22, 2014 @ 12:46 pm (Updated 1:24 pm) EST

fidelity, ron o'hanley, abigail johnson, asset management
Bloomberg News

Ronald O'Hanley, president of asset management and corporate services at Fidelity Investments, announced plans to leave the firm at the end of February, spokesman Jeffrey Cathie said.

“Having achieved much of what he intended to do, Ron has decided that it's now time for him to move on,” Abigail P. Johnson, president of Fidelity Financial Services,said in a letter to Fidelity employees obtained by Pensions & Investments. “The asset management organization is performing well and is well-positioned for continued success.”

Mr. O'Hanley said in a letter to colleagues, also obtained by P&I, that he plans to pursue other professional options, but has “not yet begun to think through that chapter.”

Mr. O'Hanley joined the firm in 2010. Fidelity expects to announce an internal successor in the coming weeks, Mr. Cathie wrote in an e-mail.

Mr. O'Hanley was unavailable for comment.

James Comtois is a reporter at sister publication Pensions & Investments

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