Edward Johnson III, a businessman who helped build Fidelity Investments into the financial behemoth that it is today, has passed away.
He was 91 years old when he died.
Johnson’s family announced on Thursday that he died on Wednesday, although no cause of death was given.
Johnson, who was born in Boston at the onset of the Great Depression, started working for his father’s firm as a portfolio manager in 1957.
In 1972, he was named president of Fidelity, and in 1976, he was named chairman and CEO after his father retired.
Johnson’s four-decade tenure at Fidelity, which began with his father’s founding, evolved the company into the Wall Street and investment behemoth it is today.
Fidelity benefited from a tremendous expansion of investment opportunities that began in the 1980s.
The stock market was no longer solely for the wealthy; practically every retirement account in the United States had a stake in it.
Edward Johnson III funeral service, burial, pictures, date, venue
Edward Johnson’s funeral arrangements and burial service is yet to be finalized.
The family will publish it to their preferred media when it is ready.
