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Joanna Rotenberg is departing Fidelity Investments after only two years, writing that she traveled 20,000 miles and successfully split her retail division into wealth and brokerage units

At her hire, analysts were adamant the head of Fidelity retail had 'big shoes to fill' to replace legendary Kathleen Murphy and her task of 'digitiizing' retail was no small ask

Author Brooke Southall December 16, 2023 at 2:22 AM
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Joanna Rotenberg: I’ve traveled 20,000-plus miles across the U.S. and internationally.
Keith Girard contributed to the editing of this article.

People Moves



December 16, 2023 — 8:31 PM
"I travelled 22K miles" doesn't seem like a "good" resume bullet point of achievement. In 2 years AUA is up only 10%; Well the market itself is up 25% on a 2year calendar date basis!


December 24, 2023 — 11:49 PM
Fidelity has a fantastic self directed brokerage platform and good service for those customers. Their wealth division has hired too many advisors and have cookie cutter investment solutions. Turn over of advisors is very high and their strategy to be like an RIA is flawed. There will be cost cutting and job layoffs in the future of the wealth division in the near future I suspect.


January 16, 2024 — 5:51 PM
Joanna was only hired to show Abby's daughter that a young inexperienced woman could lead the company. She let go some amazing talent that will cost the company down the road. Fidelity is a ripe chicken to be plucked. High margins, private ownership that has no succession plan and insane executive compensation packages. The next 10 years are going to be very grim.

Related Moves

April 2, 2024 at 1:28 AM

Biz Briefs: The sorry scene at my local First Republic branch • Schwab launches new (smaller) lay-off round • Schwab hoovers pennies passing FINRA fee to clients • Gensler pleas for funds • Fidelity owner's private equity pres. retires • an Orion-Envestnet staff switcheroo • LPL dumps FutureAdvisor

Range Rovers screeched in and drivers joined a grim queue to get their cash, and cookie • The Schwab-TDA deal cull count now stands at roughly 3.5% of its staff • FMR's hockey star president has stepped down • SEC chief wants more enforcers • An Envestnet executive proves joining a rival is good business • LPL now has an in-house robot.

April 29, 2023 at 1:36 AM

Fidelity will hire 4,000 staff in first half -- a staggering number but a tapering off from 'unprecedented' rate in 2021-2022 that catapulted it to 68,000 employees

The $10.3 trillion giant explains its hiring -- in a layoff environment -- as an RIA-like goal, namely having the human bandwidth to develop 'lifetime' relationships with its 40 million investors

February 17, 2023 at 2:49 AM

Abby Johnson hires Canadian whiz and possible successor to head up, monetize and automate Fidelity retail to close early digital deficits with Schwab, Robinhood and Vanguard-- and maybe win institutionally embedded 401(k) millionaires

With the $11.2 -trillion Boston giant hiring 9,000 by year end after opening 5 million new retail accounts in six months, Joanna Rotenberg will be asked to rationalize, unify, digitize and monetize low- or no-revenue millennial accounts.

September 21, 2021 at 2:38 AM

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