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Article: Fidelity's McColgan may be on fast track; New distribution chief seen as possible heir apparent to head mutual fund operations.(News)
- Article from:
- Pensions & Investments
- Article date:
- April 30, 2007
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Douglas Appell
BOSTON - With Ellyn A. McColgan's recent elevation as Fidelity Investments' distribution czar, observers say the Boston-based giant may have finally found a leader in the hard-driving, "passionate'' mold of Edward "Ned'' Johnson, Fidelity's 76-year-old chairman and chief executive officer.
Whether Ms. McColgan will remain focused on Fidelity's fast-growing non-money management businesses or eventually step in to turn around the group's bread-and-butter mutual fund operations remains an open question.
The latest data to emerge last week seem to bolster the argument that Fidelity should be devoting its top management ...