Celebrating 50 years of growth and innovation, Federated Investors, Inc., among the nation's largest investment management institutions, commemorated its golden anniversary in 2005. Since its modest start in Pittsburgh in the mid-1950s, millions of investors in the United States and around the globe have relied on Federated for world-class investment management. Founded in 1955, the company was born when Jack Donahue, a former air force pilot, convinced his high school classmate, Dick Fisher, to leave his job as a used car salesman to sell little-known mutual funds. With the help of Jack's long-time friend, Tom Donnelly, the three men founded Federated Investors, Inc. The company initially focused its business on mutual funds for individual investors, but it soon expanded its vision to serve bank trust departments as well. Today its products cater to a variety of financial professionals and institutional investors. Over the past half-century, Federated's veteran leadership team and dedicated employees have contributed to its exceptional growth. Through solid investment management performance, careful client focus, and continuous product innovation, Federated boasts assets exceeding $205 billion. New Horizons: The Story of Federated Investors chronicles Federated's fascinating legacy from its challenging early days to its current status as a global financial giant.