Even as it continues to lay off 3,000, Fidelity Investments is looking for talented analysts and investment professionals as it seeks to restructure and strengthen its capabilities in the midst of the economic downturn, The Boston Globe reports.
Fidelity is keen on improving its funds performance and is also planning to expand its research capabilities in Hong Kong and Tokyo.
The move is interesting, since Fidelity has eliminated 22 research analysts and 11 traders. Evidently, they will be replaced by people who Fidelity views as stronger candidates. Probably theyre getting rid of people where they took a hard look at their stock recommendations, ventured John Bonnanzio, editor of a newsletter for Fidelity investors.
Currently, Fidelity has 500 analysts, up from 300 in 2005.