John F. Donahue, founder of Federated Investors, dies at 92

Federated is best known for its money-market funds, which accounted for $245 billion of the firm's $362 billion in assets under management as of March 31

May 12, 2017 @ 5:33 pm

By Bloomberg News

John F. Donahue, a founder and longtime leader of Federated Investors Inc., has died. He was 92.

He died Thursday in Naples, Florida, of natural causes, Ed Costello, a company spokesman, said Friday in an email.

Donahue, who served as chairman emeritus until his death, started the Pittsburgh-based money manager in 1955 with two high school friends, Thomas Donnelly and Richard Fisher.

"When Jack and I founded Federated as young men, I don't think either of us could conceive of the success that we would have helping people invest, save for retirement or achieve their financial goals," said Mr. Fisher, chairman of Federated Securities Corp.

Born July 28, 1924, in Pittsburgh, Donahue graduated from the U.S. Military Academy at West Point, New York, in 1946. He served in the U.S. Army Air Corps before starting his career by selling mutual funds on commission.

He stepped down as CEO in 1998, when he was succeeded by his son, J. Christopher Donahue, who still holds that post.

"My father was a remarkable business leader and a man of tremendous faith who dedicated his life to building Federated and his community," he said in a company statement.

Federated is best known for its money-market funds, which accounted for $245 billion of the firm's $362 billion in assets under management as of March 31.

Donahue had 13 children, 84 grandchildren and 109 great-grandchildren, according to the statement.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

INTV

When can advisers expect an SEC fiduciary rule proposal and other regs this year?

Managing editor Christina Nelson and senior reporter Mark Schoeff Jr. discuss regulations of consequence to financial advisers in 2018, and their likely timing.

Recommended Video

Path to growth

Latest news & opinion

El-Erian warns advisers on ETF liquidity

If investors decide to exit exchange-traded funds en masse, things could get nasty, economist says.

Pass-through provision in new tax law could benefit REITs, MLPs

Investors in such instruments are eligible for a 20% tax deduction as a result of the pass-through provision.

Fidelity charging new fee on Vanguard assets held in 401(k) plans

The 0.05% fee is ostensibly a response to Vanguard's distribution model, but may also make the company's funds less attractive due to higher cost.

UBS adviser count continues to decline

Firm to merge U.S., global wealth management units on Feb. 1

TD Ameritrade launches all-night trading for ETFs

Twelve funds now can be traded after-hours, but the list will grow, company says.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print