Fidelity Investments’ asset management chief Ron O’Hanley is set to leave the firm at the end of February.
O’Hanley joined Fidelity in 2010 and helped reverse a tide of withdrawals by investors from the Fidelity division that offers the firm’s vehicles like its $111 billion Contrafund.
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O’Hanley had also led the corporate services division, a role he left in late 2013 to Geoff von Kuhn.
O’Hanley said to Fidelity employees that he planned to spend more time with his family and to work with non-profit organizations.
Abigail Johnson, vice chairman of Fidelity parent FMR, said that O’Hanley’s replacement will come from within the company and is expected to be named in coming weeks.
James Lowell, editor of fidelityinvestor.com, said that the two internal candidates to succeed O’Hanley will be Brian Hogan, equity chief of Fidelity and Jacques Perold, head of the FMR Co unit.
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By GlobalDataAs of December 2013, Fidelity had $1.87 trillion under management in its funds division.
