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Friday, October 01, 2010

Abby, Sue and Kathy Wield Plenty of Power

News summary by MFWire's editors

Fortune magazine's list of the 50 Most Powerful Women in Business is out this week, and three from the mutual fund industry made the cut. All three saw their rankings go up.

Abby Johnson
Fidelity Personal and Workplace Investing
Fidelity scion Abby Johnson is 21st on the list, up seven spots from No. 28 last year. The mag takes note of Johnson's expanded role and writes that: "Her ascent may be another step toward someday taking the reins from CEO Ned Johnson, her 80-year-old father."

Coming in at No. 26 is Susan Wagner of BlackRock, who ranked 33rd last year. "Wagner led BlackRock's $13.5 billion purchase of Barclays Global Investors in 2009, creating the world's largest asset-management organization, with $3.151 trillion," Fortune writes.

Kathy Murphy, whom Abby Johnson recruited to Fidelity at the end of 2008, ranks 36th, up from 41st place last year. The mag notes that nearly 18 months after she jumped from ING to Fidelity, "Murphy increased her client assets by about 30 percent." 

Edited by: Armie Margaret Lee

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