Edward C. ("Ned") Johnson III is chairman of the board and chief executive officer of Fidelity Investments, the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans and a leading online brokerage firm. The company was founded in 1946 by Edward C. Johnson II, Ned Johnson's father, to serve as investment advisor to the $3 million Fidelity Fund.
Ned Johnson joined the firm as a research analyst in 1957. He managed Fidelity Trend Fund from 1958 to 1967 and was Fidelity Magellan Fund's first portfolio manager, running the fund from 1963 to 1971.
Mr. Johnson assumed executive control of the company in 1972 — when assets under management were $3.9 billion — and quickly established a reputation as an innovator within the financial services industry. He pioneered the direct marketing of mutual funds in the 1970s, and made Fidelity the first company to offer checkwriting on money market funds. He also broke new ground in developing technology-based customer services and in introducing product innovations such as hourly pricing for sector funds. Under Mr. Johnson's leadership, Fidelity's customer assets have grown to more than $2.5 trillion. He also is chairman of Fidelity International Limited, an independent investment company that serves clients in the United Kingdom, Europe and Asia.
Born in 1930, Mr. Johnson received a bachelor of arts degree from Harvard College in 1954 and has honorary degrees from Bentley College, Boston University, Hobart and William Smith Colleges and Northeastern University. He is actively involved with a large number of organizations in the Boston area, including the Foundation for Neurologic Diseases, Beth Israel Hospital, the Boston Society of Security Analysts, the American Academy of Arts and Sciences, the Boston Museum of Fine Arts, Massachusetts General Hospital and Children's Hospital. He also pursues philanthropic activities as chairman of the Fidelity Foundation and the Edward C. Johnson Foundation.
The Financial Services Forum is a non-partisan financial and economic policy organization comprising the CEOs of 18 of the largest and most diversified financial services institutions doing business in the United States.
The purpose of the Forum is to pursue policies that encourage savings and investment, promote an open and competitive global marketplace, and ensure the opportunity of people everywhere to participate fully and productively in the 21st-century global economy.