Brett Goodin, Fidelity International's Sydney-based Asia-Pacific president, is stepping down from his role at the end of May and will leave the company altogether at the end of the year. His impending departure has been months in the planning, according to company insiders, and is motivated by personal reasons. He moved to Sydney from his former base in Tokyo last year, also for personal reasons.
When he steps down as Asia-Pacific president, Goodin will stay in a non-executive, consultant-type capacity until the end of the year to ensure a smooth transition within the company.
Although Goodin -- who has been with Fidelity for 15 years -- will be missed, the fund house will not be left stranded without an Asia-Pacific leader. Chris Ryan, managing director for Asia, and Thomas Balk, managing director for Japan, will manage the regional until a replacement for Goodin is found.
A spokeswoman for Fidelity says she doesn't know when a new president will be appointed, and she declined to comment when asked if either Ryan or Balk could perhaps slot into that role.
Fidelity International's senior management team will continue to work together until Goodin's replacement is announced. Apart from Ryan and Balk, others in the senior management team include: Jonathan O'Brien, COO of Asia-Pacific; John Ford, CIO of Asia-Pacific; and Gerard Doherty, head of Australia. Goodin's departure is not expected to affect the fund house's investment teams.
Goodin joined Fidelity Investments in 1994 as chief legal officer and corporate secretary for its international group of companies and was then based in Bermuda. In 1995 he became head of Fidelity Investments International's headquarters. He relocated in 1997 to serve as managing director of the Asia-Pacific region. He then moved to Tokyo in 2003, where he was responsible for all of Fidelity International's investment, asset management and venture capital activities across the Asia-Pacific region. Fidelity Investments operates outside the US as Fidelity International.
As president of Asia-Pacific, he was overseeing the regional business from his base in Sydney, but constantly travelled throughout the region to meet staff, clients and regulators.
Prior to joining Fidelity, Goodin was with Credit Suisse First Boston in London and held various international positions in the finance industry.
Fidelity International manages more than $290 billion in assets and has offices in 23 countries including Japan, Korea, Australia, Hong Kong, Taiwan, Singapore, China.