Fidelity Investments at a glance
By APWednesday, January 20, 2010
A look at Fidelity Investments
A look at Fidelity Investments:
HISTORY: Founded in Boston in 1946 by Edward C. Johnson II to act as investment adviser to the Fidelity Fund.
TOP EXECUTIVE: Chairman and Chief Executive Edward C. “Ned” Johnson III, age 79, started at Fidelity as research analyst in 1957.
EMPLOYEES: 37,000.
BUSINESS OPERATIONS: Assets under administration total $3.2 trillion, including $1.24 trillion in mutual funds Fidelity manages; $1.22 trillion in administered assets for which Fidelity performs record-keeping and other services; and $773 billion in mutual funds Fidelity distributes to its clients, even though other companies manage the funds.
OWNERSHIP: Privately held; 49 percent of voting stock in Fidelity is owned by members of the Johnson family, the rest by key employees.
Source: Fidelity
