financial families

Abigail Johnson succeeds father at Fidelity Investments

October 14, 2014

Abigail Johnson, third gen of the Fidelity Investments financial empire, has been appointed chief executive of the US giant.

Abigail Johnson, third gen of the Fidelity Investments financial empire, has been appointed chief executive of the US giant.

Boston-based Johnson, 51, will replace her father, Ned Johnson III, 84, who has been at the helm of the company since 1977.

Johnson has a 26-year history with the family business, starting as an equity analyst, and being appointed president in 2012, where she oversaw the company’s core businesses – asset management, retail and institutional brokerage, and retirement and benefits services.

Family business owners more likely to invest in tangibles

June 4, 2013

Family business owners are more comfortable investing in tangibles and businesses than other wealthy families, according to new research.

Family business owners are more comfortable investing in tangibles and businesses than other wealthy families, according to new research, allocating three times as much to direct private equity and almost twice as much to real estate as their non-business owning counterparts.

The study, by family office networking centre Family Office Exchange (FOX) and the University of Chicago Booth School of Business, compared the investment decisions made in 2012 by business-owning families, and "financial" families – wealthy families without an operating business.