Fidelity Shuffles Senior Executives

Fidelity Investments has appointed a new finance chief amid a management shift that brought several senior executive changes, the financial giant confirmed Thursday.

A company spokesperson confirmed the leadership changes cited in a Wall Street Journal story, which called the moves among the biggest management shakeups in Abigail Johnson’s nearly 10 years as Fidelity CEO.

The company’s finance chief, Maggie Serravalli, has been appointed chief administrative officer, and Kevin Barry was tapped for the finance chief role, the Journal reported.

Sharon Brovelli replaces Barry as Workplace Investing president, while Bill Freitas now leads technology and Mona Vernon heads human resources, according to the WSJ. Jonathan Chiel, who served as general counsel, was promoted to senior counsel, with Roberto Braceras succeeding him as general counsel, the publication reported.

The story noted that Johnson, whose family controls Fidelity, has yet to appoint anyone as her deputy.

Fidelity told employees Wednesday that operating income reached $8.5 billion last year, up 6%, while revenue rose 12%, the Journal reported.