Edward “Ned” Johnson, Former Fidelity CEO, Dies at Age 91
Posted on 03/24/2022
Edward C. “Ned” Johnson III, Fidelity Investments’ chairman emeritus and the firm’s former CEO died Wednesday (March 23, 2022) at the age of 91 at his home in Florida. Ned Johnson served as chairman emeritus of Fidelity Investments after his daughter, Abigail P. Johnson, became CEO in 2014 and chairman in 2016.
In a statement, Mr. Johnson’s wife, Elizabeth B. “Lillie” Johnson, and their three children said “our family mourns the passing of an extraordinary father, grandfather and husband. We are immensely proud of his achievements and grateful for his life.”
Ned Johnson was born in Milton in 1930 and graduated from Harvard University in 1954.
In 1957, Ned Johnson joined Fidelity Management Research, as an analyst. The firm was founded by his father, Edward C. Johnson II, in 1946. FMR eventually became part of Fidelity Investments. Ned Johnson succeeded his father as president of the company in 1972. At the time, the company was managing US$ 3.9 billion in assets.
“Mr. Johnson defied conventional wisdom for how a financial services company should best serve its clients. From direct marketing of money market funds to the trailblazing use of the internet to innovations in retirement accountant and charitable giving, he refashioned the industry into a more dynamic, more egalitarian marketplace,” Fidelity said in its statement on March 24, 2022.
According to Forbes, Ned Johnson had a net worth of US$ 10.1 billion.
Keywords: Fidelity Management & Research.
