Abigail Johnson – A Potent Female Figure in theFinancial World
- https://primeinsights.in/abigail-johnsa/women/An American entrepreneur, Abigail Johnson has been serving as the CEO and the President of Fidelity Investments since 2014. She has also been made the Chairman of Fidelity International, the international sister company of Fidelity Investments. The Johnson family holds a stake of 50% in the company as of now. She is one of the richest women around the world with a net worth of $15.4 billion.
- Abigail was born on December 19, 1961, in Boston. Initially, her grandfather, Edward C Johnson II was the founder of the Fidelity Management and Research (FMR) firm in 1946. The function of the firm involved many professional portfolio specialists who managed the money of various stock market investors. After her grandfather, the company was taken over by Abigail’s father Edward C Johnson III. During the 1980s and 90s, Fidelity emerged as one of the top financial management companies in the US.
- As Abigail did not want to spend her career at the family business, she joined Fidelity as an apprentice in 1980. Her role in the company was to deal with phone calls in the customer-based relationship department. Abigail graduated from Business Howard School in 1988. At Fidelity Investments, she was assigned in the task of Select Industrial Equipment Fund division. Within a few years, she secured the post of a Portfolio Manager and made herself the most reliable Fund Supervisor among the other list of clients.
- Later in 1994, she became the Associate Director at Fidelity and 4 years later, she started serving as the Senior Vice-President of the company. Moving forward, she became the President of Fidelity in 2001 and pushed the company to new limits.
- Upon entering the company as the President, she instigated her managers to take risks and revitalize mutual funds. She was quite successful in regaining her lost customers by increasing the investment options. With her as the new leader, the company became more successful and made more than $200 billion, which was later added to the mutual funds of the company.
- After securing the supreme position at the company’s mutual fund division, she faced strong competition from the Vanguard Group due to their strong financial sector and effective marketing campaigns. But soon Abigail managed to uphold Fidelity’s dignity with a net worth of $1.5 trillion and a $900 billion American mutual fund portfolio. The company also got around $100 from about 17 million overseas investors.
- Abigail took a different approach from his father that focused on small incremental growth whereas she believed maximum incremental growth along with sporadic acquisitions. Under her leadership, the company’s portfolio managers bought and sold extensively in the open market. They were much more serious about their acquisition strategies.
- In May 2005, Ms Johnson was made the President of Fidelity’s Employer Services Company that provides retirement, benefit and HR Service offers to other companies. The company has launched its independent press called Fidelity Insight. Her success story is a message into the world of the economy for other women to acquire their names for themselves.