Anne Richards will step down as chief executive officer of Fidelity International in 2024 after five years.
In a Nov. 20 release, Fidelity International said she will remain with the company in the role of vice chair with an emphasis on helping the organization with its key external relationships and strategic partnerships.
Richards will remain as CEO during a period of transition led by the Fidelity International board "that will take place over the coming months." Further details on succession will be "communicated at a later date," the firm said.
"(Richards) has spearheaded the build-out of a wide range of new capabilities and services across multiple markets, as well as our firmwide approach to sustainability, setting us firmly on the path for the future," said Abigail Johnson, chair of Fidelity International, in the release. "She made significant progress in building a more diverse and inclusive workplace, leading initiatives such as enhanced parental leave, carers leave and dynamic working, ensuring we are well placed to attract and retain the best talent in a post-pandemic world."
Richards joined the firm as CEO in December 2018.
According to Fidelity International's website, the firm managed $714.3 billion in assets as of Sept. 30.