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But the challenges that Fidelity faces in this space are actually the same that its competitors face. “The thing they’ve struggled with, and it’s the same for the whole market, is getting the competitive model,” said Marc Pramuk, vice president at outsourcing consultancy
Indeed, Peter Allen, a consultant, said some of the largest deals have gone to Fesco competitors in recent years, including Johnson & Johnson and Wachovia going to
But Fidelity maintains that it is having success in the area. Patrick Goepel, president of outsourcing at Fesco, said when Johnson joined the division in 2005, she put a temporary hold on sales efforts so that the company could concentrate on better serving existing clients. Since then, client surveys show that 29% are more likely to continue to use Fidelity’s services than last year.