The role of Fidelity International’s outgoing Sydney-based president for Asia-Pacific, Brett Goodin, will be temporarily split between two offshore executives, flagging no change for Gerard Doherty in his position as head of Australia.
Goodin’s departure next week would not cause a change in strategy for the company, or result in additional responsibilities for Doherty, a Fidelity spokesman said.
Since most of Goodin’s professional responsibilities lay offshore, there were no Sydney-based duties that would be passed to Doherty.
Fidelity is undertaking an external search and looking within its own organisation to replace Goodin. Until then, his role will be split between Chris Ryan, managing director for Asia, and Thomas Balk, managing director for Japan.
In the past, the top Asia-Pacific role has been based in Tokyo or Hong Kong, an indication of the markets from which Fidelity sources most of its Asia-Pacific funds under management.
Goodin relocated to Sydney from Tokyo in 2008 for family reasons and afterwards spent much of his time travelling throughout the region to work.
Australia represents a small slice of Fidelity International’s regional institutional business, providing about $2 billion. Most of its Asia-Pacific assets are sourced from Japan, Hong Kong, Korea and Singapore.
Globally, it manages approximately $200 billion.
Goodin will stay on at the business as a non-executive director, “to be called upon by senior management when it makes sense to do so for the business”, until the end of the year, the spokesman said.