Dame Anne Richards, CEO of Fidelity International, is to step down from the role after five years with the company to become vice chair.

She will relinquish the full time CEO role in the coming months to hand over to a successor yet to be appointed.

Dame Anne, who was honoured in 2021, will stay with the company as vice chair with an emphasis on “key external relationships and strategic partnerships.”

She was recruited from rival fund manager M&G five years ago.

Fidelity says that while a successor is found she will remain with the business during a period of transition “led by the Fidelity International board” over the coming months.

The company says further news on succession plans will be released at a later date.

Abby Johnson, chair of Fidelity International, paid tribute to Dame Anne.

She said: “Over the last five years Anne has accomplished a tremendous amount for our organisation in service of our clients. She 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.

“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. 

“I look forward to working with her during this transition period and I am delighted she will stay with our business as vice chair, supporting us as we work together with our clients, employees and communities all around the world to build better financial futures.”

Dame Anne has had a long career in financial services and business.

At M&G  she was CEO of M&G Investments. She joined Fidelity International as CEO in December 2018 and was appointed a director of FIL Limited in September 2019.

She has 30 years experience as an analyst, portfolio manager and CIO in the financial sector with companies including JP Morgan, Merrill Lynch Investment Managers, Aberdeen Asset Management and M&G Investments.

She is a Chartered Engineer and began her career as a research fellow at CERN. She is a former chair of the UK Financial Conduct Authority’s Practitioner Panel and was appointed a board member of the Institute of International Finance (IIF) in December 2020.

She was appointed a Dame Commander (DBE) in June 2021 for services to financial services, women, education and science.