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." 

Edited by: Neil Anderson, Managing Editor


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