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Fidelity Investments executive Ron O’Hanley to leave company

Boston, MA., 03/29/11, The Senate Committee on Post Audit and Oversight held a hearing and grilled executives of two local companies on their plans to move jobs out of the state. Executives included Fidelity Investments President Ronald O'Hanley, cq. Section: Metro, Suzanne Kreiter/Globe staff Library Tag 03302011
Ron O’Hanley testified before the state Senate Committee on Post Audit and Oversightin 2011. Suzanne Kreiter/Globe Staff/Files2011

Ron O’Hanley, the chief of asset management at Fidelity Investments, will leave the firm at the end of February, the company told employees Wednesday.

In a letter to employees, Fidelity president Abigail Johnson credited O’Hanley, 56, with helping stabilize the organization after the financial crisis. He joined the Boston financial giant in 2010, from BNY Asset Management, where he was chief executive.

“Having achieved much of what he intended to do, Ron has decided that it’s now time for him to move on,’’ Johnson said. “The Asset Management organization is performing well and is well-positioned for continued success.’’

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Johnson said the company expects to name an internal successor in the coming weeks.

The departure, after three-and-a-half years, makes O’Hanley the latest in a long list of high-ranking Fidelity executives who left as Johnson rose to run the company and eventually took over management from her father, Edward “Ned” C. Johnson 3d.

When O’Hanley joined the firm, he and Abigail Johnson each reported directly to the senior Johnson. While Edward Johnson remains chairman and chief executive, his daughter has increasingly taken on day-to-day operations.

In a separate letter to Fidelity employees, O’Hanley said that when he joined Fidelity “to help Abby lead the firm, Fidelity was in a period of significant change,’’ including the beginning of the transition from Edward Johnson to Abigail. Today, he said, “the leadership transition to Abby as president is complete.’’

O’Hanley said he did not have plans yet for a new job. He said he would spend more time with his family and working with nonprofits for the immediate future.

O’Hanley called Fidelity’s mission “noble, important work’’ on behalf of customers. Often a voice pressing the importance of helping people save for a secure retirement, he urged, “Fidelity must lead the way in solving some big societal problems.’’

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