(Bloomberg) — Fidelity Investments said it will add more than 12,000 new jobs by the end of the third quarter, extending its record hiring spree.
The plans will put the firm on track for a third consecutive year of record staffing growth, the Boston-based fund manager said in an emailed statement Thursday. Last year it made 16,600 new hires, more than double 2020.
Hiring will be across all job functions, Fidelity said — 69% in customer-facing positions, while 14% wll be technology roles.
The more than 75-year-old firm is adding to a workforce that’s already more than 57,000 strong. The hiring announcement came in the same week that online brokerage Robinhood Markets Inc. said it would cut 9% of its staff.
Fidelity also reported Thursday that it had 33.5 million brokerage accounts by the end of the first quarter, a 14% increase compared with the year-ago period, and a 3% increase from the previous three-month period.
The money manager’s business has been booming recently. Last year revenue rose 15% to $24 billion, while operating income climbed 13% to $8.1 billion. The Bloomberg Billionaires Index calculated at the time that Fidelity was worth $74.8 billion, an increase of $12 billion, based on data in its annual report.
Amid the success, the company has been launching new business lines. It started a new unit, Fidelity Diversifying Solutions, that is focused on liquid alternatives — products that offer regular investors access to hedge-fund like strategies. The entity is hiring staff and rolling out offerings, its president, Vadim Zlotnikov, said in late March.
Fidelity oversaw $4.2 trillion in discretionary assets at the end of March.
(Updates with additional details starting in fourth paragraph.)
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