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Thursday, May 19, 2016

These Two Fund Firms Are the Most Important

News summary by MFWire's editors

Frederick William McNabb III
The Vanguard Group, Inc.
Chief Executive Officer, President, Chairman of the Board of Directors
Two giant mutual fund shops are the most important privately-held companies around, other than a certain famous ride-sharing company.

Fortune just released a list of the "25 Most Important Private Companies". Number one is Uber, but Fidelity [profile] and Vanguard [profile] tied for second.

"It's no exaggeration to say that the financial security of millions of Americans rests heavily on these two behemoths," Fortune writes.

Other than a hedge fund titan and a famous venture capital player, the rest of the list is devoid of financial players.
Abigail Johnson
Fidelity
President, Chief Executive Officer
 

Edited by: Neil Anderson, Managing Editor


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