Fidelity Investments has elevated Abigail Johnson to the No. 2 role at the Boston investment giant, reporting to her father, Edward C. “Ned” Johnson III.
The younger Johnson, 50, will now have the added title president of Fidelity Financial Services, “consolidating all of the company’s core businesses under her leadership,” the company said. The promotion is the clearest sign yet that Abigail Johnson, who has been groomed for years to potentially take over the company, is firmly on target to one day run Fidelity.
She will still report to her father, Edward “Ned” C. Johnson III, 82, who is chief executive and chairman of Fidelity. Other business heads at the company will report to Abigail Johnson.
“During her 24-year career at Fidelity, Abby has gained a breadth of experience overseeing many of the divisions that comprise Financial Services,” her father said in a press release. “She has demonstrated an ability to drive change and innovation in business practices on behalf of our customers. She is well suited for this important position.”