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September 21, 2021

Fidelity hires top executive from BMO to lead $4.1 trillion personal investing arm

By Johney Amala

Fidelity Investments has hired Joanna Rotenberg from BMO Financial Group to lead its $4.1 trillion Personal Investing unit, effective early November 2021.

Rotenberg will succeed Kathy Murphy, who will step down from the role before the year-end. She will report to Fidelity chairman and CEO Abigail Johnson.

She will also be a part of Fidelity Operating Committee.

Commenting on the new appointment, Johnson said: “Joanna brings to Fidelity a forward thinking, results-driven approach and a passion for the digital experience.

“She will help us accelerate our digital operating model for the benefit of current clients as well as the next generation of Fidelity customers.”

Since 2016, Rotenberg was the group head of BMO’s wealth management division and was part of the company’s executive committee since joining in 2010.

She spearheaded the digitisation efforts at BMO, including revamping the online investing platform for the bank’s direct channel.

Rotenberg was also instrumental in the launch of robo-advisor SmartFolio as well as in developing various offerings for AdviceDirect, BMO’s hybrid advice model.

Before to joining BMO, she worked at McKinsey & Company, leading the company’s North American financial services practice.

Rotenberg commented: “I’m excited about the opportunity to join Fidelity’s customer-focused culture and embrace the company’s mission to make a meaningful impact on the lives of tens of millions of investors.”

Fidelity’s Personal Investing division serves over 30 million client accounts with $4.1 trillion in assets under administration.

In 2019, Fidelity established Fidelity Digital Assets to offer European institutional investors access to its digital asset services.

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