Tributes poured in on social media from investment management executives upon learning that Fidelity Investments Chairman emeritus Edward "Ned" C. Johnson III had passed away. Johnson died March 23, 2022 of natural causes at the age of 91.
Vincent Loporchio, former Fidelity SVP of communications, called Johnson "a globally important leader in finance who took time to talk to the average person. Always humble and never looking for accolades. Donated billions to charity anonymously over decades. He will be missed by all."
"A visionary who had an incredible impact on the entire mutual fund industry."
Fifty-three year Fidelity veteran James Carmody said that a highlight of the five decades that he worked at Fidelity was having power breakfasts with the chairman: "An incredible person and iconic in so many circles."
Bill Rice, president of the Web Marketing Association, said, "Anyone who worked at Fidelity under his leadership understood that he was a visionary who had an incredible impact on the entire mutual fund industry."
Michael Woodall, former Fidelity director of operations, said of his former employer, "He was a great man and leader. He had an uncanny ability to know what I was working on, and to give his advice, which was thoughtful and direct. I now have had the incredible experience of working for Ned and, the past 14 years, Robert L. Reynolds, Putnam Investments president and chief executive officer — two industry giants and creators.
"Rest with peace, Mr. Johnson. Thank you for everything you did for our industry, your associates, and the world overall."
Rita Robbins, president, Affiliated Advisors, New York, said of Johnson,"Ned Johnson was a restless innovator, bringing new strategies to Main Street Investors. Pushing beyond conventional boundaries within the financial services industry, his creativity and foresight forever changed the investment landscape. He offered access to rewarding segments of the capital markets that had previously been off limits to individual investors."
Russ Story, a financial adviser in Douglas, Georgia, shared with Newsmax Finance: "Ned Johnson did more to give everyday Americans access to investing than nearly anyone else. He lowered the cost of entry but also helped educate people about the importance of concepts like diversification, understanding your investments and investing for the long term."
Fidelity Chairman and CEO Abby Johnson also weighed in, saying, in part, of her father, "He loved his family, his coworkers, work, the stock market, art and antiquities, tennis, skiing, history and a good debate. He could be counted on to have the contrarian view on just about anything."
Finally, consultant Mark DeCollibus, wrote on LinkedIn, "I am sure he is in heaven tonight giving Madeline Alrbright a run for her money. Sorry for your loss. He was a great man."
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