The discreet Abigail Johnson (Fidelity) is one of the most powerful women in American finance.
Abigail Johnson, 59, continues on her way as President and CEO of Fidelity Investments. In a context that was buoyant for the American stock market, with the arrival of new investors, the Boston-based firm this week announced a record operating profit of $ 7.2 billion in 2020, up 4.6%. At the end of 2020, Fidelity had 26 million retail accounts, an increase of 17% from the previous year.
Abigail Johnson owns 24.5% of Fidelity. His fortune is valued at $ 15 billion.
Fidelity is above all a family affair. The firm was founded in 1946 by Abigail’s grandfather, Edward C. Johnson II, later succeeded by Edward C. “Ned” Johnson III.
Abigail, who rose through the ranks at Fidelity, then took over from her father.
If the firm is especially renowned for its active management in terms of investment funds (with a certain Peter Lynch as a figurehead), it has had to adapt to the stock market context, by diversifying into indexed funds (ETFs). In order to reach a younger clientele, Abigail Johnson also launched Fidelity Digital Assets, an entity dedicated to cryptocurrencies, including bitcoin.
This Harvard Business School graduate is considered a relatively low-key person. The fact remains that she is one of the most powerful women in the United States. Her fortune is valued at $ 15 billion (she owns 24.5% of Fidelity).
Unlike some of its competitors, Fidelity has always preferred to grow slowly and organically. Observers point out that it wouldn’t appeal to investors if the company were listed on Wall Street. What it is not, discretion requires …