Fidelity’s Rossi to step down as CIO global equities

Fidelity’s Dominic Rossi is stepping down as CIO for global equities to take on a new role within the business.

Rossi, who has been CIO for the past seven years, will become a special adviser on public policy initiatives on a part-time basis from January 2018. The role will entail liaising with policy makers, regulators and key stakeholders on behalf of Fidelity.

Rossi says: “After 30 years as an investor, including a decade as a CIO, I have made a personal decision to make a change from a lifestyle perspective. It is also time to take on a new challenge in the business. I am passionate about public policy and ensuring that policy making and regulation makes sense for our clients and does not have unintended consequences.”

During his time as CIO, Rossi has expanded the equities team, developed the equity income range and built the largest US equities team outside of the US, Fidelity says.

Rossi adds: “While I will not be handing over the reins for another seven months, I would like to take this opportunity to say what a privilege it has been to lead such a talented investment team and I am extremely proud of the performance and accolades that the team has delivered and won. I am very happy to remain in the company and to focus my attention on delivering in a different capacity.”

Brian Conroy, President, Fidelity International, says: “I would like to acknowledge the huge debt of gratitude that the company owes Dominic for his stewardship of the equity investment team over the last seven years and his contribution to the overall leadership and direction of the company. I’m delighted that we will continue to benefit from his experience in public policy as well as his many years’ as an investor and as a corporate governance advocate.”