Money Management

Fidelity International fixed-income CIO to retire at end of year

Charles McKenzie will retire from Fidelity International where he is chief investment officer for fixed income, confirmed a spokeswoman.

Mr. McKenzie will leave at the end of the year.​ He joined money manager — with the £239.3 billion ($330.1 billion) in assets, including the £65 billion in fixed income — in 2014 as head of European portfolio management within fixed income, and was appointed chief investment officer in January 2016.

"I would like to thank (Mr. McKenzie) for his excellent leadership and contribution to the success of the fixed-income business at Fidelity International," said Bart Grenier, global head of asset management, in a statement provided by the spokeswoman. "This is a very important asset class for us and has been progressively expanding in terms of its range of capabilities, staff numbers and assets managed for many years."

Mr. McKenzie will continue to lead the team as it searches for a successor. The search has already begun "so that there can be an orderly transition to a new CIO for fixed income by the end of the year," said the statement.