Abigail Johnson

Abigail Johnson

Abigail Pierrepont Johnson^[3] (born December 19, 1961) is an American billionaire businesswoman. Since 2014, Johnson has been president and chief executive officer of American investment firm Fidelity Investments (FMR),^[6] and chairman of its international sister company Fidelity International (FIL). Fidelity was founded by her grandfather Edward C. Johnson II. Her father Edward C. "Ned" Johnson III remains chairman emeritus of FMR. As of March 2013, the Johnson family owned a 49% stake in the company, with Johnson herself holding an estimated 24.5%.^[7]

In November 2016, Johnson was named chairman and will remain CEO and president, giving her full control of Fidelity with 45,000 employees worldwide.^[8] Johnson's wealth is approximately $16 billion,^[2] making her one of the world's wealthiest women. She was named by Forbes as The Richest Person In America’s 50 Largest Cities in 2016 and ranked #7 as Power Women in 2019.^[9]

Early life and education

Johnson attended Cambridge, MA private school Buckingham Browne and Nichols before graduating from Hobart and William Smith college with a bachelor of arts degree in art history in 1984.^[10] After a brief stint as a consultant at Booz Allen Hamilton from 1985–86, Johnson completed an MBA at Harvard Business School.^[9]

Fidelity Investments

Upon graduating from Harvard Business School in 1988, Johnson joined Fidelity Investments - which her grandfather Edward Johnson II founded in 1946^[11] - as an analyst and portfolio manager. In 2001, she was promoted to President of Fidelity Asset Management. In 2005, she became Head of Retail, Workplace, and Institutional Business. She was named president in 2012. In 2014, she became CEO, a role her father had held since 1977,^[12] and in 2016 she became chairman as well.^[13] In 2018, Johnson introduced cryptocurrency investment at Fidelity, making it possible for institutional investors to trade bitcoin and ether.^[11]

Politics

In 2016, Johnson donated $2,700, the maximum amount legally allowed for presidential primary campaigns, to Republican presidential candidate Jeb Bush.^[14]

Awards and honors

Johnson is a member of the Committee on Capital Markets Regulation. She is a member of the board of directors of the Securities Industry and Financial Markets Association (SIFMA). She is the first and only woman to serve on the board of the Financial Services Forum.^[15]

^References