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Article: Changes testing Abigail Johnson's Fidelity division [Corrected 09/12/ 07] For Abigail Johnson, a leadership test Turnover has been heavy in Fidelity unit she heads
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- August 21, 2007
- Author:
CopyrightCopyright 2007 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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Like father, like daughter.
Just as Edward C. "Ned" Johnson III shuffles the top ranks of the
Boston mutual fund giant Fidelity Investments, his daughter, Abigail
P. Johnson, is overseeing big leadership changes at the retirement
services division she runs.
Since last year, at least five senior executives have left her
division, Fidelity Employer Services Co., or Fesco. That's major
turnover at a unit that represents Fidelity's future in the
competition to manage the retirement savings plans of millions of
Americans.
Industry consultants say the division has a deep bench and may not
be disrupted by the departures.
Fesco is growing quickly in the business of managing 401(k) plans
for other ...