Fidelity Group

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Fidelity is an American group of privately-held, multinational financial services companies. It comprises two legally separate but closely co-operating companies:

  1. FMR LLC, t/a Fidelity Investments, was founded in 1946 as "Fidelity Management and Research Company". It serves the North American market.
  2. FIL Ltd, t/a Fidelity International, was spun off in 1969 from FMR LLC as Fidelity International Ltd. It provides investment products and services to clients outside the Americas.

Fidelity is the 2nd largest mutual fund company in the world,ref and one of the largest asset managers.ref Fidelity operates a brokerage firm, manages a large family of mutual funds, provides fund distribution and investment advice, a retail brokerage, retirement services, wealth management, securities execution and clearance, and life insurance, as well as unrelated businesses.ref

Coal-Financing.svg Fossil Fuels: Fidelity Investments is 16th in the Dirty Thirty list of those investing in Coal power expansion.[1]

How the owners of Fidelity get richer at everyday investors’ expense. The billionaire Johnson clan has a private venture capital arm that competes directly for lucrative deals with the Fidelity funds in which millions of people put their nest eggs. F-Prime Capital Partners, a private venture capital arm run on behalf of the Johnsons, competes directly with the Fidelity mutual funds in which the public invests. Corporate governance specialists say the arrangement poses a troubling conflict of interest. Reuters, Tim McLaughlin. Oct.05.2016

Fidelity’s Abby Johnson maxes out donations to this presidential candidate. Abigail Johnson has contributed $2,700, the maximum amount allowed under federal law for a primary campaign, to Republican presidential candidate Jeb Bush, according to campaign finance records. Johnson favors Republicans when doling out cash to presidential contenders, although Democrats have received money too. Boston Business Journal. Nov.13.2015

Company

Ownership

  • FMR LLC: Johnson Family (49%) + Fidelity execs (51%).
  • FIL Ltd: Johnson Family (39.89%) + Fidelity execs (60.11%).
Sources: ref (2019), (2018), ref (2016), ref, ref (2012), ref (2012)

Structure

  • FIL Ltd, t/a Fidelity International, OC, B'berg, reg. Bermuda Flag-Bermuda.svg
  • ... FIL Investment Advisors, OC, reg. Bermuda Flag-Bermuda.svg
  • ... FIL Capital Management Ltd, OC, reg. Bermuda Flag-Bermuda.svg
  • ... FIL (Luxembourg) SA, OC, reg. Luxembourg Flag-Luxembourg.svg
  • ... Fidelity (Canada) Asset Management ULC, was Pyramis Global Advisors (Canada) ULC, OC, ref, reg. Canada
    • FIL Holdings (UK) Ltd, reg. Oct.2008, CH
      • FIL Investment Advisors (UK) Ltd, provides advisory services to FIL Investment Advisors, CH
      • FIL Investment Management Ltd, admin. services to group companies, CH
        • Fidelity Investments Ltd, CH
      • FIL Investments International, investment manager of funds and trusts, CH, FCA, ref
        • FIL Securities (UK) Ltd, [CH]
    • Eight Roads Holdings Ltd, holdco, OC, reg. Bermuda Flag-Bermuda.svg
      • Eight Roads Services (UK) Ltd, t/a Eight Roads Ventures, sister fund to F-Prime Capital, CH
      • Eight Roads Capital Advisors (UK) Ltd, investment research services to FIL Capital Management Ltd, CH

  • FMR LLC, t/a Fidelity Investments, ref, B'berg, OC, reg. Massachusetts
    • ... FMR UK LLC, OC, reg. Delaware Flag-Delaware.svg
    • Fidelity Management & Research Company, aka FMR Co., investment manager, OC, B'berg, ref, reg. Massachusetts
      • FMR Company Inc, hedge fund, ref, B'berg, OC, reg. Massachusetts
      • FMR Investment Management (UK) Ltd, provision of investment advice to group companies, CH. FMR UK LLC has a 1% shareholding; FMR Co. has 99%.
    • ... FISC-Ireland Ltd, OC, CRO, reg. Ireland Flag-Ireland.svg
    • Devonshire International LLC, OC or OC, reg. Delaware Flag-Delaware.svg
      • F-Prime UK Ltd, was Devonshire Investors UK Ltd, faciliating secondment of employees, CH
    • Fidelity Brokerage Services LLC, OC, B'berg, reg. Delaware Flag-Delaware.svg
      • National Financial Services LLC, brokerage arm, OC, B'berg, reg. Delaware Flag-Delaware.svg
    • F Prime Inc, t/a F-Prime Capital Partners, sister fund to Eight Roads Centures, OC, reg. Delaware Flag-Delaware.svg

Orphans:

  • Fidelity Investments Inc: mentioned everywhere, but not traceably. Possibilities: OC 1973-, OC 1973-1982, OC 1937, OC 1990
  • Frontier Services Group Ltd, OC, reg. Bermuda
  • Kingdee International ... OC

Timeline

Oct.2018 Fidelity Digital Asset Services LLC: FMR LLC / Fidelity Investments launched a separate entity dedicated to institutional cryptoasset custody and cryptocurrency trading.ref, ref, website, OC, reg. Delaware
Oct.2015 F-Prime Capital Partners (F Prime Inc) was formed from Fidelity Biosciences and Devonshire Investors' technology venture capital fund,ref,ref to make pre-IPO tech and bioscience investments for family members and a small group of Fidelity executives.ref Advisory and related services are provided as Impresa Management LLC.ref,ref Fidelity Biosciences was canned.
Jul.2015 Eight Roads Ventures: Fidelity Growth Partners Europe rebranded itself (again). The “8” is associated with prosperity; the infinity symbol (an 8 on its side) is an "infinite road".ref
Fidelity Growth Partners Europe folded, with Eight Roads continuing as the proprietary investment arm of Fidelity International Ltd.ref, ref,ref
Jan.2015 Fidelity International changed its name back from "Fidelity Worldwide Investment".[?ref?]
Sept.2011 Fidelity Worldwide Investment: FIL Ltd changed its trading name from "Fidelity International", and introduced a new logo.ref, ref
Jan.2010 Fidelity Ventures was shut down. The former US team re-established themselves as Volition Capital.ref
Fidelity Growth Partners Europe: The London office renamed itself, and continued as the proprietary investment arm of Fidelity International Ltd.ref,ref, ref
Jun.2009 Fidelity Equity Partners was closed down, due to "dismal economic conditions".ref,AR-2008.12
Jun.2006 Fidelity Equity Partners was established to advise and arrange investments in European venture capital.ref
2005 Pyramis Global Advisors was formed to exclusively focus on institutional clients.ref
Aug.2003 Geode Investments LLC was spun off as an independent firm. Although Fidelity sold its stake, it retained Geode to manage its equity index funds as a sub-advisor.ref
2002 Fidelity Biosciences was formed to specialise in venture capital investments in the life sciences and healthcare technology sectors.ref,ref
Jan.2001 Geode Investments LLC was established by Fidelity as an index fund manager and test-bed for new investment strategies.ref
Mar.1996 Fidelity Investments Ireland (FISC Ireland Ltd) was set up as the firm's European off-shore development centre.ref,ref
1980 Fidelity International Ltd was set up as a Bermuda-based entity,ref to act as a management centre for Fidelity’s offshore funds.ref (pdf) Ownership was split between Johnson family members and management.ref, ref, ws, archive.org (2002)
1978Fidelity Brokerage Services LLC was formed as a subsidiary of Fidelity Investment, to provide brokerage services to retail and institutional investors, and third-party intermediaries.ref, OC
Oct.1972FMR Corporation was formed to provide as the holdco for Fidelity Management & Research Company and the most important subsidiary companies. It also provided administration services to other Fidelity companies.ref, OC
1969 Fidelity Ventures Ltd was established when Harry Hoagland, an employee of Georges DoriotWikipedia-W.svg, was invited to review Fidelity's venture interest, share his experience and make recommendations.ref,ref
1969 Devonshire Investors was established as a private equity firm specialising in buyouts. The division allows the owners of the company the ability to make other investments outside of its funds.ref,ref
1969FIL Ltd, t/a Fidelity International Ltd, was formed to serve non-US markets.ref, B'berg
1946Fidelity Management & Research Company was formed by Edward C Johnson II to serve as an investment advisor to the Fidelity Fund.ref
1943Fidelity Fund: Edward C Johnson IIWikipedia-W.svg bought the Fund from money management firm Anderson & Cromwell, and became its president and director.ref > Hoover's
1930Fidelity Fund was established by Boston investment firm Cromwell & Cabot.