Abby Johnson currently sits as the vice chairman of the parent company of the second-largest mutual fund company Fidelity Investments and has a net worth of $11.3 billion.FMR LLC (Fidelity Management and Research) or Fidelity Investments is an American multinational financial services corporation. It is one of the largest mutual fund and financial services groups in the world. It was founded in 1946 and serves North American investors.
For much of the past quarter-century, tracking the education and progress of Abigail Johnson as she moved through executive posts at Fidelity Investments was a favorite pastime of Fidelity watchers, spiced with questions of whether she would ultimately succeed her father, Edward C. “Ned” Johnson 3d, as the head of the company.
The perennial question of who will lead Fidelity Investments next finally seems settled, but a question nearly as crucial persists: who else will lead it?
Can we finally call it Abby Johnson’s Fidelity Investments?
This question popped into my head when I heard about the departure of Ron O’Hanley as the top asset-management executive at Fidelity last week.
When Abigail Johnson began her apprenticeship at Fidelity Investments 25 years ago, the Boston-based firm founded by her grandfather was the nation’s biggest mutual fund company and star manager Peter Lynch was enjoying a performance streak at the Magellan Fund — a 29 percent average return over 13 years — that ranks among the best in the industry’s history.