Fidelity’s Abby Johnson Tightens Grip on Far-Flung Family Empire
A decade into her reign, Johnson is reasserting control over the US fund giant’s London outpost. Heads are rolling.
Fidelity Investments recently shuffled management and cut 700 jobs in the US, now Fidelity International in London is coming in for a similar treatment
Photographer: Graeme Sloan/BloombergThe news quickly spread through Fidelity in London: Abigail Johnson, heir to the US fund giant founded by her grandfather, was tightening the screws on the family empire.
Anxious employees at Fidelity International, a globe-spanning business based in Bermuda and run out of London, began eying the door. Soon dozens were getting nudged out. Then the face of the operation, Chief Executive Officer Anne Richards, resigned.