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Thursday, May 10, 2018

The World's Two Most Powerful Fundsters Are ...

News summary by MFWire's editors

The world's two most powerful fundsters are Larry Fink and Abby Johnson, at least in the eyes of a certain magazine known for its lists.

On Tuesday Forbes unveiled its "The World's Most Powerful People" list for 2018. The list is meant to have one spot for every 100 million people on the globe, so this year's list includes 75 people.

Laurence D. Fink, the 65-year-old co-founder, chairman, and CEO of BlackRock, ranks 28th on the list. The chief of the world's largest asset manager (which is also the world's largest ETF shop) has been on all nine editions of the list since Forbes first started it back in 2009. (The magazine skipped 2017.)

Abigail P. Johnson, the 56-year-old CEO of Fidelity Investments, ranks 70th on the 2018 list. The chief and largest shareholder of the Boston Behemoth — an asset management, custodial, retail investment, and 401(k) recordkeeping giant — is one of 17 newcomers to Forbes' 2018 list. She is also one of only five women on the list. 

Edited by: Neil Anderson, Managing Editor

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