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Fidelity Investments, formerly known as Fidelity Management & Research (FMR), is an American multinational financial services corporation based in Boston, Massachusetts.. Established in 1946, the company is one of the largest asset managers in the world, with $5.8 trillion in assets under management, and $15.0 trillion in assets under administration, as of September 2024
In 1926, the bank merged with the Philadelphia Trust Company, established in 1869, to become the Fidelity-Philadelphia Trust Company. [10] 1928 was the Fidelity-Philadelphia Trust Company the trustee of shares from the Alex. Wolfington's Son, Inc. In 1928, the bank erected a 29-story headquarters building at 123-151 South Broad Street in ...
Although separate from Fidelity, it remained located near Fidelity's headquarters on Summer Street in Boston. It continued to manage Fidelity's passive funds as a sub-adviser, according to the Financial Times in England. [5] That year, in 2003, Fidelity Investments hired Geode Capital Management to subadvise on three Spartan equity index funds. [6]
Among the businesses commissioning new high-rises was the Fidelity-Philadelphia Trust Company, the result of the 1926 merger between Fidelity Trust Company and the Philadelphia Trust Company. Before the merger, in 1925, architects Edward P. Simon and Grant M. Simon of the firm Simon and Simon were approached to design a new building.
The structure was built in 1931 as the Fidelity National Bank & Trust Building (referred to locally as the Fidelity Building) at an estimated cost of $2.85 million, including bank fixtures. [2] The site had previously been a two-story post office and federal building until 1904, when Fidelity purchased the site for its headquarters.
Today, Fidelity International handles investments for clients in Europe, Canada, EMEA and Asia, while the US-based Fidelity Management and Research handles investments for clients in the USA. In the same year that it was established, an office was opened in Tokyo, [ 4 ] followed by London in 1973, [ 5 ] Hong Kong in 1981 [ 6 ] and Taipei in 1986.
Peter Lynch (born January 19, 1944) [1] is an American investor, mutual fund manager, author and philanthropist.As the manager of the Magellan Fund [2] at Fidelity Investments between 1977 and 1990, Lynch averaged a 29.2% annual return, [3] consistently more than double the S&P 500 stock market index and making it the best-performing mutual fund in the world.
As of March 2013, the Johnson family owned a 49% stake in the privately-held company, with Johnson herself holding an estimated 24.5%. [4] [5] She is a board member of Breakthrough Energy Ventures. [6] In November 2016, Johnson was named chair and remained CEO and president, giving her full control of Fidelity with 45,000 employees worldwide. [7]