Federated Hermes is an investment manager headquartered in Pittsburgh , Pennsylvania , United States . Founded in 1955 and incorporated on October 18, 1957, the company manages $ 758 billion of customer assets , as of Dec. 31, 2023. The company offers investments spanning equity , fixed-income , alternative/private markets, multi-asset and liquidity management strategies, including mutual funds , exchange-traded funds (ETFs), separate accounts, closed-end funds and collective investment funds. Clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers.
7-519: Federated Investors was founded in 1955 by high school classmates John F. Donahue , Richard B. Fisher, and Thomas J. Donnelly. Aetna acquired a majority ownership stake in Federated Investors in 1982; at the time Federated had nearly $ 30 billion in assets under management. In 1989, Federated management purchased Aetna's stake for $ 345 million, reestablishing majority control of the company. In 1996, Federated management paid $ 100 million to acquire
14-421: A pioneer of integrated ESG investing, from BT Pension Scheme (BTPS). Hermes had recently acquired MEPC plc . In February 2020, Federated Investors, Inc. changed its name to Federated Hermes, Inc. and unveiled an updated corporate identity focused on a commitment to responsible investing to achieve financial performance. The company also changed its New York Stock Exchange (NYSE) ticker symbol from FII to FHI, with
21-488: A venture with insurer LVM-Versicherungen Münster to offer Federated funds in Germany. In April 2012, Federated Investors, Inc. completed its acquisition of Prime Rate Capital Management LLP (PRCM), a London, United Kingdom -based provider of institutional liquidity and fixed income products, from Matrix Group Limited. Federated Prime Rate Capital Management's AAA-rated liquidity funds, known as Qualifying Money Market Funds, serve
28-578: The corporate and institutional market. The funds, totaling approximately US$ 4.0 billion (GBP 2.5 billion) in assets, are rated AAA by both Standard & Poor's and Fitch Ratings . In September 2019, Federated Investors announced that it had bought around $ 4.4 billion in assets from Fifth Third Asset Management Inc. In July 2018, Federated Investors, Inc., completed its acquisition of a 60 percent interest in Hermes Fund Managers Limited (Hermes), which operated as Hermes Investment Management,
35-560: The firm's common stock trading under the FHI ticker symbol for the first time on Feb. 3, 2020. John F. Donahue John F. Donahue (often known as Jack Donahue ) (July 28, 1924 – May 11, 2017) was an American businessman. He married happily to Rhodora (April 18, 1925 - December 12, 2022) on December 26, 1946. In 1955, Donahue founded Federated Investors, headquartered in Pittsburgh, Pennsylvania , which later became Federated Hermes . He
42-557: The remaining 25% stock ownership still held by Aetna. Federated completed an initial public offering on the NYSE on May 14, 1998. In 1991, Federated established Federated International Management Limited, a wholly owned subsidiary in Dublin, Ireland , becoming the first U.S. company whose registered money market funds were approved for distribution to the European community. In 1998, Federated launched
49-446: Was chairman and chief executive officer of Federated and a trustee/director of the firm from 1989 until April 1998. Donahue was also chief executive officer and a director or trustee of the investment companies managed by subsidiaries of the company. As of 2011, his sons J. Christopher Donahue and Thomas R. Donahue served as an executive officer and director of the company. Donahue was a graduate of Central Catholic High School and of
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