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Article: Fidelity reorganization is its biggest ever Fidelity changes will link units, boost power of Abigail Johnson - Moves to link units will increase power of Abigail Johnson
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- September 27, 2007
- Author:
CopyrightCopyright 2007 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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Fidelity Investments' new president, Rodger Lawson, launched the
largest reorganization in the company's history yesterday, shuffling
executives in a bid to better control spending and link the company's
mutual fund and brokerage businesses and its retirement operations.
The moves, described internally to hundreds of senior managers at
the Boston investment giant, also will increase the power of Abigail
Johnson, a possible heir to Edward C. "Ned" Johnson III, her 77-year-
old father and company chairman.
She now will oversee sales of products like mutual funds and
brokerage accounts to individuals, in addition to running much of the
company's Marlborough division, which administers 401(k) ...