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Rating:Moody's Raises Concerns over Ned's Tight Grip on Fido Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, November 08, 2007

Moody's Raises Concerns over Ned's Tight Grip on Fido

by: Erin Kello

Moody's Investors services, yesterday decided to maintain its high credit rating for Fidelity Investments, the WSJ reports. However, Moody's also said it has "growing concerns" over the control Ned Johnson and his family members hold over the company. The main concern Moody's has at this control is that many family controlled enterprises have chosen to adopt open governance practices closer to those of public companies, something Fidelity's parent, FMR Corp. has opted not to do. Something else that concerns Moody's is the question of succession, namely that Ned has not yet named one.  

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