has left Fidelity Investments
McColgan, who was widely viewed as a potential successor to Fidelity CEO Edward Johnson III
, spent 17 years at the Boston Behemoth, most recently serving as president of distribution and operations.
McColgan, 53, is seen by many as a mentor to Johnson's daughter, Abby
, who serves as president of Fidelity Employer Services Company.
According to one Boston source who's well placed in the fund industry: "I wonder if what will happen to Abby will be similar to what's happened to [Sumner Redstone's] daughter."
Fidelity has yet to name McColgan's replacement. In the interim, Rodger Lawson
, recently appointed as president of FMR Corp., will assume day-to-day control over distribution and operations.
"Rodger and I will work jointly on operational matters for an interim period during which we will fine-tune the organizational structure in order to enhance and grow the business," said Johnson in a news release.
McColgan is the third high-level executive to depart Fidelity in four months. In April, Bob Reynolds
, Fidelity's vice chairman and chief operating officer, who, like McColgan, was deemed by many as a candidate to succeed Johnson in the CEO suite, resigned. Then, last week, Jeffrey Carney
, who headed Fidelity's DC recordkeeping business, decamped to Bank of America.
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