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Fortune
Fortune
Sheryl Estrada

Mellody Hobson's journey to co-CEO at $14.9 billion Ariel Investments

(Credit: Courtesy of Ariel Investments)

Two Chicago natives and Princeton University alums—who graduated about 10 years apart—are running a history-making firm that's been in business for more than four decades. And what eventually blossomed into a co-CEO partnership began with a single phone call. 

Ariel Investments, the first Black-owned mutual fund company in the U.S., was founded by John W. Rogers Jr. in 1983, when he was just 24 years old. He's now co-CEO along with Mellody Hobson, who joined the company right after graduating college in 1991.

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