Federated Investors, Inc. Founder Richard B. Fisher Dies at Age 95
PITTSBURGH, Oct. 24, 2018 /PRNewswire/ -- With deep sadness, Federated Investors, Inc. (NYSE: FII) today announced the passing of Richard B. Fisher, who co-founded the company in 1955 and served as chairman of Federated Securities Corp. and vice chairman of Federated Investors, Inc. until his death at age 95 on Oct. 23, 2018.
Fisher served Federated for more than six decades. His strong work ethic, creative marketing skills and dedication to excellence in products and service helped build Federated's reputation and global reach. Today, Federated employs approximately 1,800 people in the U.S. and around the globe, managing and distributing investment products to institutions, financial intermediaries and investors around the world.
A Central Catholic High School and College of the Holy Cross alumnus, Fisher left his job as a salesman at a Cadillac dealership in 1951 to join his high school friend, the late John F. Donahue, in selling mutual funds. The two co-founded Federated Investors, with the late Thomas J. Donnelly serving as outside counsel, with the mission to not only become a leader in innovative management solutions and service, but also to have a company where people enjoy coming to work.
"Dick always put his heart into all that he did, with passion, dedication to quality and sensitivity to the shareholder's income," said J. Christopher Donahue, president and chief executive officer of Federated. "We're indebted to him for his charismatic nature and generosity."
Fisher's charm and lively sense of humor made him a favorite with Federated employees. "When you ask a Federated veteran about having a favorite memory, mentor, influence or role model, Dick's name often follows. Many Federated veterans refer to Dick with reverence and respect, as the man who helped shape their careers," said Donahue.
An exceptional salesman, Fisher was an integral member of Federated's sales force, focusing on broker sales initiatives, from the beginning. Notably, in the 1970s, Fisher led the sales strategy and execution for Federated's Fund for U.S. Government Securities, the first fund to invest exclusively in government bonds. Thanks in large part to Fisher's advertisement and traveling sales effort, the fund became one of Federated's most successful and helped increase public awareness of the company and of mutual funds in general.
Again, in 1986, Fisher spearheaded the campaign for sales of the Government Income Securities Fund, or GISI, the first in what would become Federated's Fortress family of funds.
Fisher was preceded in death by his wife of 67 years, Barbara, his older sister Patricia, younger half-sister Anne and half-brother George. He is survived by his younger brother Robert (Pat). He is also survived by his seven children, Susan Fisher, Bryant (Becky) Fisher, Mark (Olivia) Fisher, Alison (Don) Steel, John (Diane) Fisher, Mary Elizabeth (Lyle) Albaugh, and Grace Fisher, 18 grandchildren and seven great-grandchildren.
"Dick's faith was a true animation for his life. He would hit daily Mass if he could, and the good works flowed naturally from his kind heart and generous spirit," said Donahue. Fisher dedicated his time and effort to many charities including Central Catholic High School, College of the Holy Cross, La Roche College, the YMCA of Greater Pittsburgh, The Little Sisters of the Poor and others.
Federated Investors, Inc. is one of the largest investment managers in the United States, managing $379.7 billion in assets as of June 30, 2018. With 108 funds and a variety of separately managed account options, Federated provides comprehensive investment management to more than 8,500 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. For more information, visit FederatedInvestors.com.
SOURCE Federated Investors, Inc.
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