History
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 bought out Aetna for $345 million, reestablishing majority control of the company. In 1996, Federated management paid $100 million to acquire the remaining 25% stock ownership still held by Aetna. Federated completed an initial public offering on the NYSE on May 14, 1998.
In September 2012, Federated Investors announced that it had bought around $4.4 billion in assets from Fifth Third Asset Management Inc. In 2009, Federated Investors bought the mutual fund RIMAX and acquired Audrey Kaplan, who has been successfully running the mutual fund since then.
Read more about this topic: Federated Investors
Famous quotes containing the word history:
“The only history is a mere question of one’s struggle inside oneself. But that is the joy of it. One need neither discover Americas nor conquer nations, and yet one has as great a work as Columbus or Alexander, to do.”
—D.H. (David Herbert)
“Look through the whole history of countries professing the Romish religion, and you will uniformly find the leaven of this besetting and accursed principle of action—that the end will sanction any means.”
—Samuel Taylor Coleridge (1772–1834)
“Classes struggle, some classes triumph, others are eliminated. Such is history; such is the history of civilization for thousands of years.”
—Mao Zedong (1893–1976)