Business

Fidelity Investments executive Ron O’Hanley to step down

Ron O’Hanley is credited with helping to stabilize Fidelity.
Ron O’Hanley is credited with helping to stabilize Fidelity.

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Ron O’Hanley, chief of asset management at Fidelity Investments, will leave the firm at the end of February, executives 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 in the letter. “The Asset Management organization is performing well and is well-positioned for continued success.’’

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

The departure, after 3½ years, makes O’Hanley the latest in a series of high-ranking Fidelity executives who left as Johnson rose to run the company.

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