Steve Neff, Fidelity Investments' chief technology executive, was named president of its asset management business.
He will replace Charles Morrison, who is retiring next month after 32 years at the company, a spokesman confirmed. Mr. Neff will continue to report to CEO Abigail Johnson.
Fidelity plans to name a successor for Mr. Neff "in the near term," a spokesman added.
Mr. Neff had been the head of technology and global services since 2013, and began his career in the asset management unit 22 years ago, a Friday memo from Ms. Johnson to company staff states. From 2005 to 2009, he served as the chief information officer for Fidelity asset management businesses, among other technology roles, the memo, obtained by Pensions & Investments, stated.
"It's an opportune time for Steve to lead asset management, as technology is becoming increasingly important in our efforts to deliver outstanding investment performance and solutions for our customers," Ms. Johnson wrote.