Jon B. Lovelace ’50

Jon, an early leader in the mutual-fund industry, died Nov. 16, 2011, at his Santa Barbara, Calif., home.

He was a Hotchkiss graduate and a Navy reservist from 1945 to 1946. At Princeton, he was on The Daily Princetonian staff, wrote lyrics for the Triangle Club, and served as vice president of the Intramural Athletic Association and Cannon Club. He graduated with honors in economics.

Jon had to be “persuaded” to go into the family business, the Capital Group, which his father founded in 1931. He started as a statistician, taking a more prominent role when his father fell ill, and became chairman in 1964. He guided the firm as it expanded to rival giants like Fidelity and Vanguard. Today, it oversees more than $1 trillion and offers more than 40 funds under the name American Funds. He once said the key to success was “Don’t be greedy.”

His unassuming nature belied his strong philanthropic commitment to the not-for-profit sector. He and his wife were involved in more than 30 entities focusing on the arts, the environment, and education. He was an avid hiker.

To Lillian, Jon’s wife of 60 years; their children, Carey, Jeffrey, Jim, and Rob ’84;  and six grandchildren, we send our sympathy.