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Fidelity president jumps ship to US company

Business-Handshake-Finance-Deal-700.jpgFidelity International president Brian Conroy will soon leave the business for the US company the asset manager was spun out from.

Conroy’s role at Fidelity Investments, which is controlled by the same family that owns a large stake in Fidelity International, has not yet been disclosed, but he will be leaving his current role at the end of this month.

Fidelity International group CFO Simon Haslam will become interim president while a replacement is sought.

A Fidelity spokesman says: “Brian was appointed as president in late 2014 with a brief to transform the company into a more broadly-based financial services business driven by the needs of its clients. This is now firmly underway.

“All the objectives and plans for the company in 2018 remain in place and there are no other changes arising from this transition.”

The appointment follows this week’s news that Romain Boscher will become Fidelity International’s global chief investment officer for equities. Incumbent Dominic Rossi announced his plans to move within the group last year.

Boscher joins from French asset manager Amundi where he has been head of equities for the last seven years. He joins Fidelity in London on 30 April.

Regional portfolio management equity teams led by Paras Anand in Europe, Takashi Maruyama in Japan and Tim Orchard in Asia Pacific ex-Japan will report into Romain, who himself will report to global head of asset management Bart Grenier.

The head of the global equity research function, Henk-Jan Rikkerink, will also report into Boscher.

Commenting on the appointment, Grenier said Boscher has experience working on a global level with large teams. “Our equities franchise is a significant part of our business and we are passionate about delivering great active returns for our clients.”

Before Amundi, Boscher worked with French insurer Groupama, where he was deputy chief executive.

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  1. Too close to the sun as usual at Fido

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