Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:The Johnsons Mourn Fidelity's Fallen Heart Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, July 24, 2018

The Johnsons Mourn Fidelity's Fallen Heart

News summary by MFWire's editors

Abby Johnson and Ned Johnson are mourning a retired Fidelity leader who spent more than six decades at the mutual fund giant.

Bill Byrnes, former president and vice chairman of the Boston Behemoth, died in Naples, Florida on Saturday at the age of 96, his obituary confirms.

William Leo Byrnes was born on December 12, 1921 in Cambridge, Massachusetts. After going to Belmont Hill School, he spent more than 50 years on its board of trustees. After graduating from the University of Pennsylvania's Wharton School in 1943 in the middle of World War II, he joined the U.S. Army Air Corps.

He returned to civilian life in 1946, joining his father's retail women's shoes and accessories chain, Hamilton-Lapp Company. In 1957, Byrnes had a "very good feeling" about Fidelity founder Edward C. Johnson II (Ned's father and Abby's grandfather), so Byrnes joined Fidelity as a research analyst. (Ned Johnson also joined Fidelity as a research analyst that year, and the two are the longest serving Fidelity employees in history.) By the mid-1960s, according to Fidelity, Byrnes and the father-son Johnson duo "formed a leadership team that would shape the future vision and direction of the company."

Byrnes rose to director of investment research, then to executive vice president in 1969, then to president of the management company and a board seat in 1972. In 1977, the year Ned Johnson became chairman and CEO, Byrnes became vice chairman. The next year, Byrnes left for London to work on Fidelity's international business. He returned to the U.S. in 1990 as managing director and vice chairman of Fidelity parent FMR, though he retired from day-to-day management. He stayed on the board of directors until 2014, and has been a director emeritus ever since.

"Apart from his enormous contributions to Fidelity's business, he was also one of the kindest and most thoughtful individuals I've ever had the pleasure of working with," states Abby Johnson, chairman and CEO. "Bill will be missed by many Fidelity associates for his business acumen, sharp wit, and friendship. The world is immeasurably better because of Bill."

"Simply put, Bill Byrnes was one of the best," Abby Johnson adds.

Ned Johnson, chairman emeritus, describes Byrnes as "at the heart of all major developments at Fidelity over many decades."

"Our company wouldn't be where it is today without his insights, creativity, passion and leadership," Ned Johnson states. "I truly believe that Bill is one of the best business minds of his generation. I'm grateful for having been able to call him my friend."

Roger Servison, who helped lead Fidelity's discount brokerage and retail marketing efforts, describes Byrnes and Ned Johnson as "a complementary duo."

"Ned was always filled with energy and ideas, but he wasn't a logistics guy," Servison states. "So oftentimes Ned would come up with an idea, and Bill was the one who would handle the details and the people management and make it happen."

"Bill was a great, honorable leader, and the ultimate gentleman," Servison adds.

Byrnes and his late second wife, Peggy, were active with the Port Royal Club, the Royal Poinciana Gold Club, and the Naples Yacht Club.

Byrnes is survived by his son, three step children, and five grandchildren.

In lieu of flowers, Byrnes' family is directing donations to St. Ann School in Naples, Florida and to Belmont Hill School in Belmont, Massachusetts.

The funeral mass is scheduled for 11am this coming Saturday, July 28 at 11am at St. Ann Catholic Church in Old Naples, followed by a private burial at the Naples Memorial Gardens Cemetery. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2025: Q3Q2Q1
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


    Sorry, no records in the database matched your search parameters. Clich back and try again.



  1. Nicsa webinar - New research by Alex Edmans and the Diversity Project - The Power of diverse thinking: How the best teams make decisions, July 1
  2. MFDF Director Discussion Series - Open Forum, July 9
  3. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 10
  4. MFDF Director Discussion Series - Open Forum (Philadelphia), July 15
  5. 2025 MMI Women in Advisory Solutions Forum, Jul 15-16
  6. Nicsa webinar - How Trusted GenAI is Transforming Data Access in Asset Management, July 16
  7. MFDF webinar - M&A and Consolidation in Asset Management, July 16
  8. MFDF webinar - ETF Conversions, July 17
  9. MFDF Director Discussion Series - Open Forum (New York), July 22
  10. MFDF Ask Anything webinar - AI Edition, July 24
  11. MFDF webinar - Use of Derivatives by RICs, July 29
  12. MFDF Director Discussion Series - Open Forum (Columbus, Ohio), August 20
  13. Samfund Soiree Boston 2025, August 21
  14. MFDF webinar - The Audit Committee Chair's Guide to Balancing Duties and Emerging Issues, September 3
  15. ICI ETF Conference, Sep 8-10
  16. Nicsa webinar - Reimagining Reconciliation: AI, Regulation, and Capital Markets Transformation, September 10
  17. MFDF webinar - Series Trust Funds - Compliance and Board Reporting, September 10
  18. MFDF In Focus - Board Oversight of DEI in Current Landscape, September 11
  19. MFDF webinar - MFDF 15(c) White Paper Webinar Series: Part 4 – Enforcement Action Takeaways, September 16
  20. MFDF webinar - Latest in Closed-End Funds Litigations, September 23
  21. MFDF webinar - Fixed Income Insights: Navigating Market Trends & Opportunities, September 24
  22. MFDF webinar - Risk Management Essentials for RICs and Boards, September 29
  23. MFDF webinar - Diligent - Tools for Fund Board Book, October 1
  24. 10th annual Fuse Forum, October 8
  25. MFDF webinar - Essential Strategies in Board Oversight of Operational Risk Management, October 14
  26. 2025 MMI Annual Conference, Oct 15-17




©All rights reserved to InvestmentWires, Inc. 1997-2025
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use