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Fund Times

Fidelity's O'Hanley to Step Down

Ron O'Hanley, who had been Fidelity's asset-management chief since 2010, likely will take a break after leaving.

Ron O'Hanley, Fidelity's head of asset management since July 2010, is stepping down from his role. An internal successor will be named in the coming weeks. O'Hanley will work with his successor during a transition period through late February. He has no immediate career plans but will likely return to the asset-management industry after a break.

A succession plan for longtime chairman Ned Johnson was clearly established last year when daughter Abby Johnson took on the title of president, overseeing O'Hanley and the asset-management division.

O'Hanley had also led the corporate services division since joining Fidelity in 2010, a role he relinquished in late 2013 to Geoff von Kuhn. As a result, O'Hanley's successor will focus solely on asset management.