Fidelity Adds 3,500 to Head Count in '05

Fidelity Investments has been busy hiring employees in the United States and abroad this year, expanding its head count by 3,500, the Boston Herald reports. The total number of people working for Fidelity stood at 36,000 at the end of October, way above its 2000 peak of 33,186 employees. In 2002, when it cut 1,700 jobs, Fidelity had a total of 29,142 employees.

The hiring comes at a time when other fund shops are also expanding their payrolls. Eaton Vance has expanded its staff by 120 since 2003. Wellington Management has a number of jobs advertised on its Web site and just took on a large new lease in Boston. Meanwhile, Russell Reynolds just issued a report noting an upturn in financial services jobs.

The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.