MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, April 19, 2010 Will Fidelity Be Run By Committee? The speculation about the future of Fidelity continues. Looking beyond the recent departure of Fidelity president Rodger Lawson, Pensions & Investments' Douglas Appell reports that, according to some bankers and recruiters, Fidelity might eventually replace Ned Johnson's leadership with that of a committee, not a single chief executive. Anne Crowley, a spokeswoman for Fidelity, told The MFWire that the P&I story is "filled with a bunch of rumor and speculation." "Ned Johnson ... is firmly in control of the firm. He has for many, many years been supported in overseeing the operations on a day-to-day basis by a committee of executives which is largely made up of key executives with oversight over the major divisions," Crowley said. "There is nothing new about that." In discussing Fidelity's fortunes, P&I paraphrases NEPC manager research chief Steve Charlton, who calls the Boston Behemoth "the proverbial supertanker: difficult to turn on a dime and seemingly moving in the right direction." Printed from: MFWire.com/story.asp?s=31953 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |