Harvard hockey star who ran Fidelity Dynastys family office is leaving FMR

(Bloomberg) — Lane MacDonald, a recruit for the family office of the billionaire dynasty behind Fidelity Investments, has left parent company FMR.

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MacDonald, 57, confirmed he was on garden leave – or a mandatory period away from the industry before joining a rival firm – after leaving FMR, where he was chairman of its diversified investment group and chief investment officer.

A spokeswoman for Boston-based Fidelity declined to comment.

MacDonald has had ties to Fidelity, a financial services firm with about $10.3 trillion under management, for nearly a decade.

Crosby Advisors, the Johnson family’s private investment firm, brought him in about nine years ago when he was a director at the Harvard Management Group, which manages Harvard University’s endowment.

He then moved to FMR, the parent company of mutual fund and financial services giant Fidelity. FMR is 49% owned by the Johnsons, who ranked 12th on Bloomberg’s annual list of the world’s richest families with assets exceeding $40 billion. FMR is affiliated with companies that invest money on behalf of the Johnsons and other Fidelity employees and shareholders.

That includes venture capital firm F-Prime, which manages more than $4.5 billion and was chaired by MacDonald. It invests in technology and healthcare companies and was an early backer of Chinese e-commerce giant Alibaba Group Holding Ltd.

He was also a director at Impresa Management, a private equity group that reported $11.7 billion in client assets at the start of the year, according to a filing with the Securities and Exchange Commission.

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Before he was an investor, MacDonald was known for his hockey skills.

He was drafted by the NHL’s Calgary Flames, but chose Harvard, where, as captain, he led the Crimson to their only NCAA hockey championship in 1989. The previous year, he represented the United States in the 1988 Olympics.

He was inducted into the US Hockey Hall of Fame in 2005.

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