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Articles tagged "Abby Johnson"


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Chip Roame: Wow, that is a crazy lot of people!

Fidelity's strategy to own the financial advice business by owning 'a crazy lot of people' is heading for 28,000 hires in two years

Hiring 16,600 people last year just whetted the $11-trillion Boston company's appetite to make 12,000 more hires in a play to be a category killer in finance.

May 12, 2022 at 3:14 AM

Ned Johnson could be counted on to have a contrarian view on  everything.

Ned Johnson, who built Fidelity Investments into a family financial services empire and inspired countless others in the industry with his energy and integrity, has died at 91

Edward 'Ned' Johnson III put aside his Brahmin pedigree in favor of a low-key, personable style but he also had a keen 'contrarian' instinct to step up aggression in downturns, which helps explain Fidelity's recent dazzling hiring spree

March 26, 2022 at 2:05 AM

Fidelity Canada operates largely from this building in Toronto.

Fidelity gets its crypto ETF --albeit Made in Canada -- giving RIAs a way to buy 'physical' Bitcoin

After Fidelity was rebuffed by the U.S. Securities and Exchange Commission, Fidelity Canada had more luck by turning to its own securities cop with a more abiding outlook on crypto currency as an investible asset

December 4, 2021 at 4:12 AM

Abby Johnson: 'Our financial strength and stability allow us to make significant investments in our businesses.'

Fidelity Investments pulls out stops on perks to raise headcount by 7,000 -- by hiring 9,000 -- to shrug off labor shortages, escalating wages and call center attrition

The 53,000-employee Boston firm is offering Google-type benefits and Merrill Lynch-style training--no financial experience necessary-- to reach 60,000 staffers by Christmas to meet crushing demand for service and still advance mega-projects like crypto and youth accounts

September 4, 2021 at 12:57 AM

Sanjiv Mirchandani is leaving Fidelity after accepting a buyout package too good to refuse.

Fidelity Investments is paying 2,000 employees to hasten their corporate exits, including high-profile RIA overseer, Sanjiv Mirchandani, as part of its shift to a digital future

The Boston giant offered voluntary buyout packages and the 4% of staff who accepted will leave by June 30 to give other staff room to grow careers and make room for hires.

June 24, 2021 at 5:39 PM

Abby Johnson blared no trumpets about her firm hitting $10 trillion.

Fidelity Investments flies past staggering $10T milestone, but Schwab, finally fully loaded with Q1 results from TDA merger, steals some of the Boston giant's thunder

The Boston and Westlake, Tex., companies are both on fire -- even showing surprising strength in the 'Robinhood' sector -- but Schwab's rollup of TD Ameritrade and USAA radically reduced a yawning gap

May 14, 2021 at 11:25 PM

Kathleen Murphy: 'I’d always had 57 penciled in, in terms of taking stock … I’m so over New England Winters, too.'

Fidelity Investments loses Kathleen Murphy who largely caught up Fido to Schwab (near $4T) on the retail side by reversing net promoter scores

The 'no whining allowed' leader of the Boston giant's retail business, who oversaw $2 trillion in net new assets, was ready to exit but hung in through a year dominated by COVID-19 challenges

January 23, 2021 at 2:02 AM

​ Maggie Serravalli is Fidelity's new chief financial officer is a presumed multi-tasker.

A last lion of the Ned Johnson era, Gerry McGraw, vacates the Fidelity CFO spot for Maggie Serravalli, and makes evident Abby Johnson's 'phenomenal' women strategy

McGraw was credited with steely leadership during the 2008-2009 financial crisis but also bridged the management revamp toward a big bet on what women can do better in the next decade.

June 12, 2020 at 3:52 AM

Fidelity CEO Abigail Johnson is delivering a blow to a pillar of her father's old system of hiring and retention, sources say.

Headhunters rejoice after Fidelity axes invincible (but expensive) executive bonus program to more narrowly focus rewards on productivity and execution

Watchers of the Boston-based firm presume CEO Abby Johnson's play connects to revenue hits from 'zero' programs but also a strategic rethinking of how to unify the company silos and motivate managers with a more merit-based system

January 13, 2020 at 6:59 PM

Fidelity's Abby Johnson  took eight days to succumb Chuck Schwab's commission  torpedo but those days may have been put to good use.

One big casualty of Fidelity Investments' buckle on zero-fee commissions may be the zero-fee RIA custody tailwind of three decades duration

With Pershing last to collect trade revenues, Schwab, TD Ameritrade and Fido have leverage and ' I think Fidelity will be the first to try,' Kitces says.

October 15, 2019 at 8:42 PM

David Canter (off hours, on stage with his rock band): That’s something that we all need to think about, and it's getting lost in the headlines.

All eyes turn to Fidelity to see if it cracks in all out price war over trading commissions, but for now Abby Johnson is stubbornly refusing to buckle -- bolstered by RIA reassurances

A Morgan Stanley analyst assures Wall Street Boston giant must match Charles Schwab & Co's free trades; Instead, says Fido's David Canter, the company is listening to RIAs, who fear poor service more than ticket charges

October 4, 2019 at 1:44 AM

Massachusetts regulator William Galvin's reputation precedes him in taking a look at Fidelity's 'infrastructure' fee.

Fidelity's 2016 'secret' fee fix for 'broken' 401(k) business model may spark fresh state and federal 401(k) crackdown on heels of investor civil suits

The DOL, William Galvin and a class action hang over the Boston 401(k) king's 15-basis-point fee, but experts think Fidelity -- its squirrel-y disclosure aside-- can fight the charges

March 18, 2019 at 9:28 PM

Abby Johnson's pursuit of innovation wherever it may be has led it to Amazon's door.

Fidelity Investments takes another leap into the future, enlisting Amazon to turn advisors into virtual reality avatars, but some say it's pie-in-the-sky

Abby Johnson's metamorphing Boston financial firm needs the Seattle owner of Alexa to make its vision of remote advisors with the human touch a reality,

February 4, 2019 at 11:41 PM

Bob Reynolds: Ex-Fidelity veteran is taking on his old firm for 401(k) rollover assets.

Bob Reynolds -- 11 years after leaving Fidelity -- is going after its fatter margins with a beefed-up virtual RIA

The Empower CEO will add 300 fiduciary advisors and apply a Canadian robo and Apex Clearing custody to de-clunk the underwhelming existing rollover

November 19, 2018 at 8:26 PM

Mike Durbin: The number one thing I will do in this job is serve as chief advocate for our clients.

'No BS' Mike Durbin leapfrogs up the Fidelity Investments ladder but can he serve RIAs, eMoney and Abby?

RIAs run out of superlatives for the eight-year exec's ability to 'get it' at both the intrapreneurial and entrepreneurial level as he ascends to president of $2.3-trillion Fidelity Institutional

October 6, 2017 at 8:06 PM

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