Fidelity Int CEO to step down

Fidelity International chief executive Anne Richards has resigned after five years in the role.

While stepping down from an executive role, Richards will remain with Fidelity as vice chair, helping the company with its external relationships and strategic partnerships.

The asset manager said it would announce her replacement later, adding that Richards will stay on over the coming months.

Richards, who has more than 30 years of experience in asset management, led M&G Investments before joining Fidelity as chief executive officer in 2018.

Before that, she was chief investment officer at Aberdeen Asset Management.

Richards currently serves on Women on Boards as an ambassador and is on the advisory board of The Lord Mayor's Appeal.

She is also the former chair of the UK Financial Conduct Authority's Practitioner Panel and was appointed a board member of the Institute of International Finance, the Washington-based think tank, in December 2020.

"Over the last five years, Anne has accomplished a tremendous amount for our organisation in service of our clients," Fidelity International chair Abby Johnson said.

"She has spearheaded the build-out of a wide range of new capabilities and services across multiple markets, as well as our firmwide approach to sustainability, setting us firmly on the path for the future.'

Johnson said the outgoing chief executive made significant progress in building a more diverse and inclusive workplace, leaving Fidelity well-placed to attract and retain the best talent.