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Thursday, October 25, 2018

Federated Mourns a Second Co-Founder

Reported by Neil Anderson, Managing Editor

17 months after one Federated Investors [profile] co-founder died, another has passed away, too.

On Tuesday Federated Investors vice chairman Dick Fisher died at the age of 95, confirms president and CEO Chris Donahue. According to the Pittsburgh Post-Gazette's obituary, Fisher died at home due to congestive heart failure. Fisher co-founded Federated in 1955 alongside Donahue's father, the late Jack Donahue.

"Dick always put his heart into all that he did ... We're indebted to him for his charismatic nature and generosity," Chris Donahue states. "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."

Richard B. Fisher was born on May 17, 1923. He hails from Federated's hometown of Pittsburgh and went to high school with Jack Donahue. Fisher served in the U.S. Army, then graduated from the College of the Holy Cross in 1947. After working as a used car salesman, Fisher teamed up with Jack Donahue in 1953, and in 1955 (with help from the late Tom Donnelly) Fisher and Jack Donahue founded Federated, which has since grown to have more than 1,800 employees and more than $430 billion in AUM.

Fisher was a key part of Federated's sales efforts over the years, including the pushes for the Fund for U.S. Government Securities in the 1970s and the Government Income Securities Fund in the 1980s. He continued to go into the office daily until the age of 95.

Like the Donahues, Fisher was an active Catholic who supported a host of affiliated charities. He was also an avid golfer.

"Dick's faith was a true animation for his life," Chris Donahue states. "He would hit daily Mass if he could, and the good works flowed naturally from his kind heart and generous spirit."

Fisher is survived by a younger brother, seven children, 18 grandchildren, and seven great-grandchildren. Viewing hours are tomorrow afternoon and evening at John A. Freygoel Sons, Inc., and the funeral mass is scheduled for Saturday at 10am at St. Paul Cathedral. (Interment at Calvary Cemetery will be private.) In lieu of flowers, the family is directing donations in Fisher's honor to the Little Sisters of the Poor. 

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