Abigail Johnson succeeds father as CEO of Fidelity Investments

Abigail P. Johnson has been named CEO of Fidelity Investments, effective immediately, according to an internal company memo sent to employees and obtained by Pensions & Investments. She replaces her father, Edward “Ned” Johnson, who will retire from the position but remain as chairman of the company. Ms. Johnson will retain her current role as president. The memo also notes that Gerry McGraw, president of Fidelity Institutional, and Mike Wilens, president of Fidelity Enterprise Services, have been elected directors of the company. In addition, FMR board member Bill Byrnes has been named board member emeritus. Fidelity had $2.069 trillion in global assets under management as of June 30. (James Comtois is a reporter at sister publication Pensions & Investments.)