China ** newspaper Wu Juanjuan.
On March 1, 2024, the president of Fidelity International, a world-renowned asset management giant with a management scale of 776.2 billion US dollars (the scale is equivalent to about 5,582.8 billion yuan as of the end of 2023), took office. Fidelity veteran Keith Metters has been appointed as the new helm of Fidelity International.
Fidelity International appoints new helmsman
In mid-November 2023, Anne Richards, then Chief Executive Officer (CEO) of Fidelity International, announced her departure plans. Anne Richards said she will continue her responsibilities as CEO until Fidelity International finds a successor. More than three months later, on March 1, 2024, Fidelity International announced the appointment of new President Keith Metters, who reports to Fidelity International's Chairman Abigail Johnson.
Fidelity International is Fidelity's asset manager focused on markets outside the U.S., while Fidelity Investments is an asset manager focused on U.S. operations.
Abigail Johnson is also CEO and Chairman of Fidelity Investments and Chairman of Fidelity International. As the third generation of the Johnson family, she took over the baton from her father to take the helm of the asset management group founded by her grandfather. In an interview with David Rubinstein, Abigail Johnson revealed that the competition among global asset managers is becoming fiercer, and clients want good returns while only paying low fees.
According to the data, Keith Metters joined Fidelity International in 2020 and served as the global head of platform solutions at Fidelity International before being promoted to president of Fidelity International. Prior to joining Fidelity International, he worked for sister firm Fidelity Investments for more than 20 years.
Abigail Johnson commented that Keith Metters has a deep understanding of Fidelity's business. With an absolute focus on the customer and a sense of control over operational efficiency, he is the perfect candidate for President of Fidelity International. She said she looks forward to Fidelity International moving to the next stage under the leadership of Keith Metters.
Since 2023, Fidelity Investments and Fidelity International have undergone some senior management changes. For example, earlier, Miao Zimei, head of research at Fidelity International Asia Pacific**, stepped down. In February 2024, Miu announced that she would join Janus Henderson, another global asset manager, as Manager and Head of Greater China.
At present, Fidelity International has wholly foreign-owned public offerings in Chinese mainland such as Fidelity **. According to the data, by the end of 2024, the total scale of Fidelity** is 577.8 billion yuan.
Since 2017, when China opened up foreign investment to apply for wholly foreign-owned private equity managers, Fidelity International has continued to increase its presence in China. For example, Fuda Litai, a wholly foreign-owned private placement, was once the first wholly foreign-owned ** private equity manager in China.
In August 2021, the China Securities Regulatory Commission (CSRC) issued the Reply on Approval of the Establishment of Fidelity Management (China), approving the establishment of Fidelity Management (China) as the second wholly foreign-owned public offering company approved in China.
On February 26, 2024, Fidelity Management (China) announced the establishment of a Beijing branch. According to the announcement, Fidelity ** Management (China) ** Beijing Branch has completed the industrial and commercial registration and obtained the business license with the Market Supervision and Administration Bureau of Xicheng District, Beijing. The person in charge of the Beijing branch is Li Chengcheng.
In addition, Fidelity** has also recently increased its registered capital from 1$300 million to $1600 million US dollars, becoming the company with the largest registered capital in the wholly foreign-owned public offering**.
Pioneer Navigator CEO Tim BuckleyWill retire at the end of 2024Recently, Vanguard CEO Tim Buckley also announced personnel changes.
On February 29, 2024, Vanguard Navigator Group, the largest public offering company in the United States, announced that Tim Buckley will retire as chairman and chief executive officer at the end of 2024.
Vanguard said the board has initiated a process to begin the search for a new CEO. Vanguard also said that both internal and external candidates will be considered. In the same press release, Vanguard announced that Chief Investment Officer Greg Davis is also the company's president.
According to the data, Tim Buckley joined the Vanguard Pilot Group in 1991. Initially, he worked as a research assistant to founder John Borg. In 2001, he became a member of the Vanguard Group's senior leadership team, where he served as Head of Pioneer Information Technology. Subsequently, he led the Individual Investor Division. During his leadership, the business grew significantly. He was appointed Chief Executive Officer of Vanguard Group in 2018 and Chairman of the Board in 2019.
According to a press release issued by Pioneer, Tim Buckley's tenure has seen a significant expansion of his client base, with assets under management increasing by more than 80% to $9 trillion. During this period, Pioneer Pilot Group also significantly expanded its consulting business.
Greg Davis, Chief Investment Officer of Vanguard Group, will also serve as Group President, overseeing the distribution of most Vanguard Pilot** and ETFs, as he will be responsible for investment management, retirement business and servicing financial advisory clients.
According to the data, Greg Davis has been with Vanguard Pilot Group for 24 years, and he was first appointed as the chief investment officer and global head of Vanguard Pilot Investment Management Group in 2017. He currently oversees global assets managed by Vanguard Fixed Income, Indices and Quant groups, with up to $8 trillion in assets under responsibility.
In addition, BlackRock, the world's number one asset manager in 2024, also announced a series of senior management changes in the Asia-Pacific region. For example, Susan Chan has been appointed Head of Asia Pacific and Fan Hua has been appointed Head of BlackRock China.
Editor: Xiao Mo.
Review: Xu Wen.