When Abigail Johnson began her apprenticeship at Fidelity Investments 25 years ago, the Boston- based firm founded by her grandfather was the nation’s biggest mutual-fund company and star manager Peter Lynch was enjoying a performance streak at the Magellan Fund -- a 29 percent average return over 13 years -- that ranks among the best in the industry’s history.
Fidelity Investments named Abigail P. Johnson president, putting the daughter of Chairman Edward C. “Ned” Johnson III in charge of all the key businesses at the second-largest mutual-fund company in the U.S.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Aug. 29 (Bloomberg) -- In "Street News," Bloomberg's Sara Eisen reports on today's top stories including Fidelity Investments naming Abigail P. Johnson president.She speaks on Bloomberg Television's "Bloomberg Surveillance." (Source: Bloomberg)