For the second time in two days, a head honcho at a big five fund firm is out. Yesterday it was Mohamed El-Erian. Today it is Ron O'Hanley
The Boston Business Journal
, Pensions & Investments
all are reporting on an internal letter to employees by Abby Johnson
, president of Fidelity Financial Services
Many Fidelity watchers had seen O'Hanley as a possible to longtime chairman Ned Johnson
. His departure could be seen as confirmation that Ned's daughter Abby has taken control of the firm.
Boston Behemoth executives announced O'Hanley's coming departure in a memo to their employees. O'Hanley also circulated his own memo that included his thoughts on his future. He plans to leave by the end of February. The company will announce a successor in the coming weeks, according to a statement.
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