Boston fund giant Fidelity Investments has announced a major restructuring that includes replacing Abigail Johnson, the chairman's daughter, with a committee to run its money management arm. Johnson will become president of Fidelity's Employer Services Company, which provides retirement, benefits and human resources services to companies. Johnson, whose family controls the privately held company, was promoted four years ago to run the money management division and has long been seen as her father's successor. Robert Reynolds, Fidelity's vice chairman and COO, will chair a committee to oversee the company's mutual fund unit in addition to his current responsibilities.

http://www.mmexecutive.com

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.