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Rating:Fido's O'Hanley to Leave at February's End Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, January 22, 2014

Fido's O'Hanley to Leave at February's End

Reported by Tommy Fernandez

For the second time in two days, a head honcho at a big five fund firm is out. Yesterday it was Mohamed El-Erian. Today it is Ron O'Hanley.

The Boston Business Journal, Pensions & Investments, Bloomberg and Reuters all are reporting on an internal letter to employees by Abby Johnson, president of Fidelity Financial Services.

Many Fidelity watchers had seen O'Hanley as a possible to longtime chairman Ned Johnson. His departure could be seen as confirmation that Ned's daughter Abby has taken control of the firm.

Boston Behemoth executives announced O'Hanley's coming departure in a memo to their employees. O'Hanley also circulated his own memo that included his thoughts on his future. He plans to leave by the end of February. The company will announce a successor in the coming weeks, according to a statement. 

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