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Rating:A $4.1T-AUM Titan Is Hiring Thousands, But ... Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, September 01, 2021

A $4.1T-AUM Titan Is Hiring Thousands, But ...

Reported by Neil Anderson, Managing Editor

A $4.1-trillion-AUM, $11-trillion-AUA (as of June 30) mutual fund titan that's also a giant retirement plan provider, discount brokerage, RIA custodian, and fund supermarket (hence all that AUA) is hiring for thousands of new jobs by year-end.

Abigail "Abby" Pierrepont Johnson
FMR (dba Fidelity Investments)
Chair, President, CEO
Yesterday, Abby Johnson, chairman and CEO of Fidelity Investments [profile], and Bill Ackerman, head of human resources at Fidelity, revealed plans to add 9,000 more new jobs in 2021, beyond some additions earlier in the year. Yet don't expect a big increase in Fidelity's asset management division's headcount.

"The majority [of the new jobs] are not investment roles," Kate Taylor, a Fidelity spokesperson, tells MFWire. "We continue to hire investment roles consistently but this particular spike in hires is more specific to our client-facing, technology and business support functions like operations & client services, product management & marketing, human resources, compliance, etc."

Per the Fidelity team, 44 percent of the 9,000 new jobs will be "client-facing positions," while nine percent will be technology positions. The new positions include a number of new roles in Fidelity's workplace investing division (i.e. its 401(k) business). Our sister publication, 401kWire, has more details.

Fidelity currently has more than 47,000 people on staff, so the 9,000 new roles amount to a 19-percent expansion.

"Fidelity continues to achieve strong growth and results for our 38 million customers because of the hard work and commitment of our associates," Johnson states. "Our financial strength and stability allow us to make significant investments in our businesses and create value for the people we are privileged to serve." 

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