Fidelity Worldwide Investment UK managing director Hugh Mullan is to step down in April.
Mullan (pictured) is to take a year-long career break and is not leaving to take up another job.
He will be replaced by Jim Burton, who is currently based in the US and is chief marketing officer of Fidelity Investments personal investing arm.
Fidelity is actively seeking a full-time replacement for Mullan and hopes to have appointed someone to the position by the end of the year.
A Fidelity spokeswoman said: ‘We have initiated a search for Hugh’s successor. With Jim on board for this assignment, we are able to conduct a thorough search for a permanent candidate, and do so safe in the knowledge that the business will be managed in the interim by an exceptionally experienced and capable leader.’
Mullan joined Fidelity International in 2008 as chief operating officer for Europe having previously been managing director of Barclays Wealth since 2005. He became UK managing director of Fidelity Worldwide Investment in March 2012.