The new CIO will be replacing Steve Ellis who announced last year that he would be leaving the company to take a career break. 

Fidelity International has appointed Marion Le Morhedec (pictured) as global chief investment officer of fixed income.

Le Morhedec will be joining in September after two decades with AXA Investment Managers, the firm said in a statement. Most recently, she served as the global head of fixed income and was a member of AXA Investment Managers' management board. In this role, she managed a team of 110 professionals across eight locations.

Her previous roles at AXA Investment Managers include head of active fixed income for Europe & Asia, where she led a 30-member team and managed €70 billion ($81 billion) in assets, focusing on ESG integration. Prior to this, she was head of product specialists and solutions for core investment (fixed income, equity, multi asset).

Le Morhedec will report to Andrew Wells, CIO fixed income, multi and private assets, and will be based between Fidelity’s London and Paris offices. She will be replacing Steve Ellis who announced last year that he would be leaving the company to take a career break. 

“We have made considerable investment into our fixed income business over the past year, developing talent from within and hiring some highly experienced portfolio managers externally,” Wells said. “The recent portfolio manager appointments of Mike Riddell and Ravin Seeneevassen added top-down macro expertise in the team, while Philip Fielding bolstered our emerging market debt strategies.”

Fidelity International, which has been managing bond assets since 1982, has $1,001 billion of fixed income assets under management on behalf of a mix of institutional, wholesale and retail clients globally. Operating in more than 25 locations and with $900.7 billion in total assets, Fidelity’s clients range from central banks, sovereign wealth funds, large corporates, financial institutions, insurers, and wealth managers, to private individuals.