Fidelity's Top Investment Exec Stepping Down

After working at Fidelity Investments for more than 20 years, Stephen P. Jonas, currently its top investment executive, is stepping down at the end of the month. Robert L. Reynolds, vice chairman and chief operating officer, will continue as president of Fidelity Management & Research, overseeing the senior team.

“Steve Jonas has done a remarkable job since becoming executive director of FMR in early 2005,” Reynolds said. “As a result of the many organizational initiatives that Steve and his senior team put into place, our investment organization is stronger than ever. Working with that team, I look forward to building on their many accomplishments.”

Jonas took on the position in May 2005, replacing Abigail Johnson, who is now head of Fidelity’s retirement services unit.

With Jonas’ departure, Walter C. Donovan is becoming president of the equity division, Boyce I. Greer president of the fixed income division and Dwight D. Churchill president of investment services.