Now you can say it is so: Abigail Johnson last month was named president of Fidelity Investments and, effectively, successor to her father, Edward "Ned" Johnson, chief executive officer of Fidelity Investments.

In her new role, Johnson, 50, will oversee asset management, retail and institutional brokerage, retirement and benefits services at the Boston-based firm. She will report to her father, who currently has no plans to retire at the ripe old age of 82. She becomes the third generation of Johnsons to head the nations' second largest mutual fund firm, trailing only Vanguard Group.

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