Fidelity Names New CFO

Company veteran Maggie Serravalli was promoted to finance chief.
Lauren MuskettMarch 11, 2020

Fidelity Investments named Maggie Serravalli as chief financial officer. Serravalli, who is 56 years old, was most recently executive vice president at the company’s healthcare group.

Maggie Serravalli

Serravalli will oversee finance in addition to tax, treasury, human resources, real estate, government relations, and corporate communications teams, according to a note chairman Abigail Johnson sent to employees on Monday.

“Maggie’s background is wide and varied, which will serve her well in her new role,” Johnson wrote in a note to employees. “She has led global teams, run operations groups, overseen cross-enterprise programs, managed key client relationships, and invested considerable time mentoring leaders across the firm, all of which have sharpened and honed her leadership skills.”

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Serravalli joined Fidelity in 2007 from JPMorgan Chase where she served as managing director for seven years. Before that, she was managing director at Chase Manhattan Bank.

Serravalli replaces Gerard McGraw. McGraw started at Fidelity in 1996 and was promoted to CFO in April 2016 after almost seven years as president of Fidelity Institutional. He will remain head of Fidelity’s legal and enterprise-risk teams and chair the audit committee on the board of parent company FMR.

Fidelity recently released fourth-quarter earnings that climbed from the same period last year. The company’s revenue for the quarter rose 39.6% to $2.36 billion from $1.69 billion last year.