Fidelity Investments promoted the CEO/chairman’s daughter Abigail “Abby” Pierrepont Johnson yesterday.
Johnson, 50, is now the president of Fidelity Financial Services heading all of the mutual fund giant’s main businesses, the privately held Boston-based company said in a release.
In her new role, Johnson will now oversee Fidelity’s asset management, retail and institutional brokerage, retirement and benefits services, corporate operations and function support groups, the release said. She previously served as president of the Personal, Workplace and Institutional Services organisation, which includes the retail and institutional brokerage divisions and retirement and benefits services.
She still has to report to her dad, Edward “Ned” C. Johnson III, 82, the chairman and CEO of Fidelity.
Johnson, a 24 year veteran at the company, has been considered a contender to succeed her father as chairman/CEO of Fidelity, which was founded by her grandfather in 1946.
Bloomberg News’ Christopher Condon points out that she is now seen as the clear successor to take the helm.
We wanted to learn more about her and this is what we found:
- According to Forbes, her estimated net worth is $10.3 billion making her No. 29 on the Forbes 400 rich list. She’s the 85th richest person in the world, according to the list.
- She also ranks No. 57 on Forbes “The World’s 100 Most Powerful Women” list.
- She worked briefly as a consultant at Booz Allen Hamilton before joining Fidelity after earning her MBA.
- She’s the oldest of her two siblings, Elizabeth and Edward C. Johnson IV.
- Johnson graduated with her bachelor’s degree in art history from Hobart and William Smith Colleges. She holds an MBA from Harvard.
- She’s married to Christopher McKown and has two children.