Edward Johnson came to be known in his industry for financial wizardry. Through his innovations, Fidelity mutual funds became a household word.
Edward Johnson – Money Management Wizard
Johnson made his name by taking over Fidelity Investments, increasing profits for the company, and revolutionizing the finance industry in the process.
Edward Johnson is known as a self-made man, building up his wealth by managing his company in the financial services industry. He had a Harvard education and took his graduate studies at the same institution.
Johnson took over the company that was once called the Fidelity Fund, which was founded by his father, Edward Johnson II. Johnson started out in Fidelity Investments as a research analyst in 1957, after which he became manager of the Trend Fund. He’s built his enterprise slowly but surely.
He believed in investing in common stocks with heavy trading. It was this belief that propelled the company forward and set him on the road to success. Johnson eventually made it to the top, as president of the company.
This billionaire of a business leader has been at the helm of Fidelity Investments since 1972. These days, however, his daughter Abigail Johnson helps him run the company. The company downsized in 2001, and his daughter became president of Fidelity Management and Research Company, which is aimed at helping the business get back on track and on its way up again.
The business has always been in the family. Aside from financial services, Johnson also has other companies that include a motorcoach service and an employment agency. This mutual fund family has always been based in Boston, Massachusetts, where most of the operations take place. However, aside from the United States, Johnson has also expanded his company to include an office in the United Kingdom.
It was the innovations that Johnson introduced that made Fidelity mutual funds as well-known as they are today. With him at its helm, it was the company that first sold funds through an 800 number. It also pioneered hourly pricing on Select Mutual Funds. Especially during its heyday, the company and its financial wiz of a leader continually broke new ground in the finance industry.
The Edward Johnson Quick Bio
Full name: Edward C. Johnson III
Company: Fidelity Investments
Key success traits: innovative, hardworking, family-oriented
With his father, Edward Johnson established a foundation that contributes to many nonprofit organizations in the United States.