and his family have good cause to celebrate this weekend. Today is the former Fidelity
chief's 88th birthday, as noted
by the Boston Globe
Edward C. Johnson III joined the Boston Behemoth in 1957. In 1977, Ned took over as chairman and CEO from his father, Fidelity founder Edward C. Johnson II, and Ned reigned for 37 years. In that time Fidelity grew into a financial services titan across a host of different business lines and revolutionized the 401(k) industry with its bundled mutual fund platform, and it grew to be the largest mutual fund company and 401(k) recordkeeper in the world (it retains the latter title but has slipped to number three among fund firms, number four if you count ETFs).
In 2014 Ned passed
the CEO job to one of his daughters, current chief Abby Johnson
. In 2016 Ned handed
Abby his final hat, chairman.
Neil Anderson, Managing Editor
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