 | |
 Headquarters atFederated Hermes Tower | |
| Company type | Public |
|---|---|
| NYSE: FHI (Class B) S&P 400 Component | |
| Industry | Financial services |
| Founded | October 18, 1957[1] |
| Headquarters | Federated Tower Pittsburgh,Pennsylvania United States |
Key people | John F. Donahue, Co-founder J. Christopher Donahue, President and CEO Thomas Donahue, CFO |
| Products | mutual funds |
| Revenue | US$425 million (Dec. 31, 2024) |
| US$268 million (Dec. 31, 2024) | |
| AUM | US$830 billion (Dec. 31, 2024) |
| Total equity | US$79 billion (Dec. 31, 2024) |
Number of employees | 2,072 (Dec. 31, 2024) |
| Website | www |
Federated Hermes is an investment manager headquartered inPittsburgh,Pennsylvania,United States. Founded in 1955 and incorporated on October 18, 1957,[1] the company manages $829.6 billion ofcustomer assets, as of December 2024. The company offers investments spanningequity,fixed-income, alternative/private markets, multi-asset andliquidity management strategies, includingmutual 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.
Federated Investors was founded in 1955 by high school classmatesJohn F. Donahue, Richard B. Fisher, and Thomas J. Donnelly.[2]
Aetna acquired a majority ownership stake in Federated Investors in 1982; at the time Federated had nearly $30 billion in assets under management.[3] In 1989, Federated management purchased Aetna's stake for $345 million, reestablishing majority control of the company.[4] In 1996, Federated management paid $100 million to acquire the remaining 25% stock ownership still held by Aetna.[5] Federated completed aninitial public offering on the NYSE on May 14, 1998.[6]
In 1991, Federated established Federated International Management Limited, a wholly owned subsidiary inDublin, Ireland, becoming the first U.S. company whose registered money market funds were approved for distribution to the European community. In 1998, Federated launched a venture with insurer LVM-Versicherungen Münster to offer Federated funds in Germany.[7]
In April 2012, Federated Investors, Inc. completed its acquisition of Prime Rate Capital Management LLP (PRCM), aLondon, 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 the corporate and institutional market. The funds, totaling approximately US$4.0 billion (GBP 2.5 billion) in assets, are rated AAA by bothStandard & Poor's andFitch Ratings.[8]
In September 2019, Federated Investors announced that it had bought around $4.4 billion in assets from Fifth Third Asset Management Inc.[9]
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, a pioneer of integrated ESG investing, from BT Pension Scheme (BTPS).[10] Hermes had recently acquiredMEPC 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.[11] The company also changed its New York Stock Exchange (NYSE) ticker symbol from FII to FHI, with the firm's common stock trading under the FHI ticker symbol for the first time on Feb. 3, 2020.
