Fidelity Investments has named Abigail Johnson president of Fidelity Financial Services, consolidating all of the company’s core businesses under her leadership.

Johnson will oversee a broad organization comprising the company’s financial services businesses – asset management, retail and institutional brokerage, retirement and benefits services, as well as corporate operations and function support groups. In her new role, Johnson will continue to report to her father, Edward Johnson, Fidelity's chairman and chief executive officer.

Johnson most recently was president of the Personal, Workplace and Institutional Services organization, which includes the retail and institutional brokerage divisions, as well as retirement and benefits services. In that role, she worked partnered with Ronald O’Hanley, president of Asset Management and Corporate Services. O’Hanley will continue to oversee all of Asset Management and Corporate Services reporting to Johnson. In addition, the leadership of Fidelity’s brokerage and mutual fund distribution businesses will continue to report to Johnson in her new role.

Johnson also is vice chairman and director of FMR LLC, the holding company for the businesses of Fidelity Investments, and chairman of the Board of Trustees for the Fixed-Income/Asset Allocation funds.

“During her 24-year career at Fidelity, Abby has gained a breadth of experience overseeing many of the divisions that comprise Financial Services,” Johnson said. “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.”

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