Ah, Southern California, home of hot beaches, obscene traffic jams, yet another actor-turned-Governor and soon, a bevy of new offices owned by the No. 1 mutual fund firm in America. Fidelity Investments, the Los Angeles Business Journal reports, wants to bump up its number of big-city offices to 100 by the end of the year, with 20 of them being in California.

So Beverly Hills, Santa Barbara and Santa Monica will be gaining Fidelity offices, adding to the nine already present in Southern California and seven in Northern California. To Fidelity Executive Vice President Bob Hedges, California is everything.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.