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Rating:Abby's Unit Sees a String of High-Level Departures Not Rated 2.3 Email Routing List Email & Route  Print Print
Tuesday, August 21, 2007

Abby's Unit Sees a String of High-Level Departures

by: Armie Margaret Lee

Fidelity Employer Services Co., the unit that Abby Johnson heads, has witnessed a string of high-level departures since last year. At least five senior executives have departed Fesco in 2006, The Boston Globe reported Tuesday. The MFWire's sister publication, The 401kWire (login required) has previously reported on those departures. These include the head of Fidelity's 401(k( business, Jeffrey Carney, who left last month to join Bank of America, Bill McDermott, who headed client services for the large-plan segment, left in April and executive vice president Cynthia Egan, who left in May to join T. Rowe Price. Consultants think that Fesco possesses a deep bench and may not be disrupted by the exits.  

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