Giant ships don't turn on a dime that often, but when they do, it's sure fun to watch.

In this case, it's the Boston Behemoth, which is starting to change its ways pretty quickly under the helm of Fidelity Investment president Abby Johnson, according to Bloomberg.

The newswire quotes Fidelity asset management head Ronald O'Hanley as saying that his "boss is taking action." Hanley told Bloomberg that Johnson is leading Fido's efforts to boost fee revenues via a service by which advisers build client customized portfolios consisting of mutual funds, ETFs and other investment products. Johnson, Hanley says, is also driving Fido's push into ETFs (i.e. Fido has recently filed to launch more actively-managed ETFs and will also offer Fidelity-branded funds in collaboration with BlackRock).

She is also pushing the company to seize more opportunities involving social media.

However, the newswire notes, Johnson has been noticeably quiet since taking the reins, declining all interview requests with the press.

Read more in Bloomberg.  

Edited by: Tommy Fernandez


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