Abigail Johnson up another rung at Fidelity

Fidelity Investments announced Abigail Johnson has been named president of newly formed Fidelity Financial Services, which will oversee all of the firm's core businesses. Ms. Johnson, the daughter of Fidelity chief executive officer Edward C. Johnson III, was most recently in charge of Fidelity's retail and institutional brokerage divisions, as well as retirement and benefits services. She will continue to oversee those departments along with the asset management and corporate services departments in her new role. “During her 24-year career at Fidelity, Abby has gained a breadth of experience overseeing many of the divisions that comprise Financial Services,” Mr. Johnson 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.” Ron O'Hanley, who was brought in as president of the asset management and corporate services departments in 2010, will continue in his role and report directly to Ms. Johnson.