New Model Adviser - For Professional Investors

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Fidelity International president Conroy exits after three years

1 Comment
Fidelity International president Conroy exits after three years

Fidelity International president Brian Conroy has left his role after three years at the head of the company that runs the asset manager's £307 billion operations outside of North America . 

He had been replaced on an interim basis by Simon Haslam, who is currently group chief financial officer of Fidelity International. 

Conroy (pictured) will take up an as yet unannounced new role with Fidelity Investments. Fidelity International is a separate company from Fidelity Investments in the US.

A spokesman for Fidelity said Conroy's exit would not affect the rest of the business or its plans for the next year. 

'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.'

One of Conroy's biggest decisions as president was to introduce a new charging structure for funds at the end of last year, which promised to pay investors back for underperformance. While some praised the move, which followed a scathing Financial Conduct Authority report into fund charges across the industry, at least one source familiar with the situation has told New Model Adviser® some within Fidelity believe it is 'too complex' for many customers to understand. 

The UK business has also seen a number of high-profile departures over the three years Conroy has been in charge. Last year head of pensions policy Richard Parkin left the business entirely, while advisory services head Jon Everill moved to a role in the Asian part of the business. 

Chief investment officer for global equities Dominic Rossi also stepped down from his role last year to take over a new policy position at Fidelity International. 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Comment & analysis

Twitter