Fidelity Investments has named Abigail Johnson as president of Fidelity Financial Services, consolidating all of the company’s core businesses under her leadership.
In her new role, Johnson will continue to report to her father Edward Johnson, Fidelity chairman and chief executive officer.
Johnson will oversee a broad spectrum of the company’s financial services businesses – asset management, retail and institutional brokerage, retirement and benefits services, as well as corporate operations and function support groups.
“As our business continues to evolve, we want to bring all of our resources together to position our firm strategically to optimise our competitive capabilities to meet the growing and evolving needs of our mutual fund shareholders, clients and customers,” Edward Johnson said in announcing the new appointment.
Johnson most recently was president of the Personal, Workplace and Institutional Services organisation, which includes the retail and institutional brokerage divisions, as well as retirement and benefits services. In that role, she partnered with Ronald O’Hanley, president of Asset Management and Corporate Services.
O’Hanley will continue to oversee all of asset management and corporate services, but will now report to Abigail Johnson, rather than her father. The leaders of Fidelity’s brokerage and mutual fund distribution businesses will continue to report to Abigail Johnson in her new role.
