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Friday, September 11, 2009

Abby Johnson's Power Holds Steady

by: Armie Margaret Lee

Fortune magazine on Thursday released its list of the 50 Most Powerful Women in Business. Abby Johnson, president of Fidelity's personal and workplace investing ranked 28th, the same as last year.

"Along with running Fidelity's largest division, Johnson has taken over the board that oversees fixed-income and asset-allocation funds. Observers say the move further paves the way for her to take over from her dad, Ned," Fortune wrote.

Kathy Murphy, whom Johnson hired from ING to become president of Fidelity's personal investing unit in January, also did not see a change in her ranking (No. 41). With her move to Fidelity, Murphy more than doubled the client assets she oversees -- now exceeding $700 billion and 12 million customer accounts," the mag noted.

BlackRock vice chairman and COO Sue Wagner debuted on the list at No. 33. "Wagner was just 26 when she and seven others founded BlackRock. Now she's a lead on its $13.5 billion Barclays Global Investors acquisition. The deal will create the world's biggest asset manager," Fortune noted.

Sallie Krawcheck, who recently joined Bank of America as president of global wealth and investment management, returned to the list, taking the 30th spot. 

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