MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, May 6, 2005 Fido Shifting Analyst Development Path Fidelity is rethinking the way its puts together its investment analysts teams. According to a Morningstar report, the Boston Behemoth will shift its analysts ranks from a minor league for fund managers to a career path in its own right. Robert L. Reynolds, Fidelity's vice chairman and chief operating officer, outlined the planned changes in an interview with the Chicago fund tracker. One key change will be a shift in the possible career paths for analysts at the firm. In the past, Fidelity has hired freshly minted MBAs to fill its analyst ranks. Those hires were then rotated through a number of funds and, if they shined, promoted to manage a sector fund and then a diversified fund. Analysts who fell off that career track likely left. That rotation meant that few Fidelity analysts have had deep ties to the industry sectors that they cover. Going forward, Reynolds told Morningstar that Fidelity would create an analyst career path that will allow the firm to build a deeper and more experienced bench. Reynolds also outlined a second change. Where Fidelity once only hired fresh faces, it will now look at raiding experienced analysts from other firms. That change will allow Fidelity to more quickly fill holes that open in its ranks. Printed from: MFWire.com/story.asp?s=9644 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |