We've all heard of the Six Million Dollar Man (and his counterpart the Bionic Woman), but that's mere chump change compared to Wall Street's new trillion-dollar woman Abigail Johnson.
Johnson is the CEO of Fidelity, the world's fourth largest asset manager. She is taking over the role of chairman from her father Edward C. Johnson III, who is retiring after almost 60 years at the company. Fidelity manages $2.1 trillion in assets and handles the retirement and savings plans for 20,000 companies and 25 million Americans.
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Abigail Johnson was born in Boston in 1961. She received her bachelor's degree in Art History from Hobart and William Smith College in 1984. After a brief stint as a consultant at Booz Allen Hamilton. In 1986, she returned to school to get her MBA from Harvard Business School. She joined Fidelity as an analyst and portfolio manager in 1988. She was promoted to an executive role in 1997 and has been moving up the ranks ever since. Abigail Johnson was named President of Fidelity in 2012 and CEO in 2014.
Her grandfather, Edward Johnson II, founded Fidelity Investments in 1946.
Johnson's 86-year-old father is stepping aside to become a non-executive chairman. He plans to consult with his daughter and the board of directors as well as keep his office hours at the company's Boston headquarters.
By becoming chairman of Fidelity, 54-year-old Abigail continues her domination of Wall Street. As chairman and CEO, Johnson occupies one of the most powerful jobs in the financial services industry. Johnson tops the most powerful women on Wall Street lists year after year and is one of the top 15 most powerful people in finance.
Abigail Johnson has a net worth of $12 billion.
