With qualifications in securities and futures as well as financial planning, she was previously financial editor of Fleet Street Publications.
Before that, Pedersen-McKinnon was online editor and acting editor of bizreview, which comprised a breaking-news website, weekly newsletter and monthly magazine.
Pedersen-McKinnon starts next week and will report to editor Jane Walford.
As well as deputising for Walford, she will be responsible for editing features and news. Money Management is aimed at personal finance professionals.
Clarkson leaves next week to be editor of Health Insurance magazine.
The FT Business portfolio includes City bible Investors Chronicle, which is set for a revamp under its latest editor Matthew Vincent (PRWeek, 22 March), Financial Adviser and Investment Adviser.