Fidelity Investments lays off 700 employees (2024)

JAMES KING, PRO BUYER

Editor’s Picks

Gatekeeper Views

12 gatekeepers share their top PM searches

Gatekeeper Moves

Russell shuffles subadvisors; gatekeeper to exit

revenue sharing

Asset managers paid Ameriprise $337m in revenue-sharing fees in 2023

Gatekeeper Views

'The most important factor': How gatekeepers gauge an asset manager's culture

brokerage fees

'Goliath won': Boutiques reluctantly cut deals with Fidelity to avoid ETF fees

Ceo Appointment

Ex-BlackRock ETF chief to be next Vanguard CEO

Gatekeeper Views

'The new Citi': The bank's post-layoff gatekeeper team gets a makeover

Layoffs Mar 11, 2024

The firm did not specify which sectors of the business would be most affected by the cuts.

By Eva Thomas

Twitter Facebook Linkedin WhatsApp >print comments

Less than a week after Fidelity International announced that it would be cutting 1,000 employees, Fidelity Investments - the Johnson family’s U.S. flagship - also cut about 700 jobs, a spokesperson confirmed to Citywire.

The company notified ‘certain associates’ last week that their roles were impacted, but did not specify which sectors of the business would be most affected.

The cuts affect less than 1% of the Boston-based Fidelity Investments’ global workforce, which has around 74,000 employees and $12.6tn in assets under administration.

To continue reading, register for a free Citywire account

By clicking Register you agree to our .
Our privacy policy is available to read at any time here.

To read this article please sign in

Don't have an account?

Twitter Facebook Linkedin WhatsApp >print comments

Show and add comments

Please sign in or register to comment. It is free to register and only takes a minute or two.

Gatekeeper Moves May 31, 2024 Story By Tania Mitra

Marta Norton is leaving the firm after 18 years.

fund files May 31, 2024

Fund Files: Touchstone eyes ETF share class clearance; Dimensional files for three active ETFs

THE LOWEDOWN May 31, 2024

Spicy nuggets and liquid alts: This Brinker gatekeeper is ready for lunch

Private credit May 30, 2024

'I expect there to be problems': Jamie Dimon warns about private credit

executive changes May 30, 2024

UBS names new Americas boss and co-prez of global wealth management

JAMES KING, PRO BUYER

Editor’s Picks

Gatekeeper Views

12 gatekeepers share their top PM searches

Gatekeeper Moves

Russell shuffles subadvisors; gatekeeper to exit

revenue sharing

Asset managers paid Ameriprise $337m in revenue-sharing fees in 2023

Gatekeeper Views

'The most important factor': How gatekeepers gauge an asset manager's culture

brokerage fees

'Goliath won': Boutiques reluctantly cut deals with Fidelity to avoid ETF fees

Ceo Appointment

Ex-BlackRock ETF chief to be next Vanguard CEO

Gatekeeper Views

'The new Citi': The bank's post-layoff gatekeeper team gets a makeover

Get the latest news in your inbox

By clicking Sign up you agree to our .
Our privacy policy is available to read at any time here.

Opinion & Analysis

Fund analysis Story By John Coumarianos

The best and worst Real Estate funds

Despite real estate’s rough ride, some funds have managed to post gains for the three years through April. Generally, they have been funds that can buy non-REIT companies or the non-equity securities of REITs.

portfolio manager views

Artisan star Dan O’Keefe doesn't want to speak to the manager

elite investor views

Time to invest like a young Buffett in 1999

Opinion

Should individual investors care about active ETFs?

Opinion

BREIT feels the heat but fund’s flaws are not unique

The Gavekal Angle

Should I buy gold? Is China oversold? And more client questions

Fund analysis

Artisan funds find flows in unloved places

Connect

THE LOWEDOWN Story By Ashley Lowe

Spicy nuggets and liquid alts: This Brinker gatekeeper is ready for lunch

Welcome to the Lowedown with me, Ashley Lowe McConnell, head of audience development for Professional Buyer. I'm bringing you a quick-fire Q&A with one of the many gatekeepers I've been meeting with across the country. Enjoy!

THE LOWEDOWN

Meet the Edward Jones gatekeeper who is FINALLY watching The Office

THE LOWEDOWN

K-dramas and karaoke: Get to know this Merrill gatekeeper

THE LOWEDOWN

'I wish I bought it': The stock surge that surprised this Lincoln gatekeeper

THE LOWEDOWN

Phone a friend? The famous investor this BOKF gatekeeper would call in a pinch

THE LOWEDOWN

'A true train wreck': Brinker gatekeeper talks best and worst manager meetings

ETFS

fund files Story By William Johnson, Eva Thomas

Fund Files: Touchstone eyes ETF share class clearance; Dimensional files for three active ETFs

Your daily roundup of fund launches, strategy shifts and manager moves.

executive changes

Former Global X exec lands at $70bn ETF shop

ETF Files

ETF Files: BlackRock adds own bitcoin ETF to two funds, launches four new ETFs

fund files

Fund Files: Fidelity's oldest fund has a new PM, JPM small-cap manager exits

crypto

SEC approves spot ethereum ETFs

Private Assets

THE LOWEDOWN Story By Ashley Lowe

Spicy nuggets and liquid alts: This Brinker gatekeeper is ready for lunch

Welcome to the Lowedown with me, Ashley Lowe McConnell, head of audience development for Professional Buyer. I'm bringing you a quick-fire Q&A with one of the many gatekeepers I've been meeting with across the country. Enjoy!

Private credit

'I expect there to be problems': Jamie Dimon warns about private credit

Alternatives

Goldman Sachs raises $20bn for private credit strategies

Gatekeeper Views

12 gatekeepers share their top PM searches

Gatekeeper Views

Top RayJay gatekeeper explains updates to firm's rec list

Alternatives

Schwab execs outline plan for private markets platform

CEO interview

Artisan's execs are waiting for private markets 'carnage'

Most Popular

Gatekeeper Views Story By Tania Mitra

Top RayJay gatekeeper explains updates to firm's rec list

Led by Erina Ford, RayJay's gatekeeper group has removed three funds and added five to the firm's rec list, and is currently looking in liquid alts, international, global value and core plus bonds.

Gatekeeper Views

12 gatekeepers share their top PM searches

Gatekeeper Moves

Morningstar Investment Management CIO exits

executive changes

Former Global X exec lands at $70bn ETF shop

portfolio manager views

Artisan star Dan O’Keefe doesn't want to speak to the manager

Private credit

'I expect there to be problems': Jamie Dimon warns about private credit

Ratings Roundup

Ratings Roundup: Morningstar downgrades $3.6bn Harbor fund

Publications

Due Diligence Report 2024

This special report examines the case for investing in international equity funds, looking at their potential for growth and diversification.

Discover all publications

Fidelity Investments lays off 700 employees (2024)

JAMES KING, PRO BUYER

Editor’s Picks

The firm did not specify which sectors of the business would be most affected by the cuts.

To continue reading, register for a free Citywire account

To read this article please sign in

Leave a comment

Marta Norton is leaving the firm after 18 years.

JAMES KING, PRO BUYER

Editor’s Picks

Get the latest news in your inbox

Opinion & Analysis

Despite real estate’s rough ride, some funds have managed to post gains for the three years through April. Generally, they have been funds that can buy non-REIT companies or the non-equity securities of REITs.

Connect

Welcome to the Lowedown with me, Ashley Lowe McConnell, head of audience development for Professional Buyer. I'm bringing you a quick-fire Q&A with one of the many gatekeepers I've been meeting with across the country. Enjoy!

ETFS

Your daily roundup of fund launches, strategy shifts and manager moves.

Private Assets

Welcome to the Lowedown with me, Ashley Lowe McConnell, head of audience development for Professional Buyer. I'm bringing you a quick-fire Q&A with one of the many gatekeepers I've been meeting with across the country. Enjoy!

Most Popular

Led by Erina Ford, RayJay's gatekeeper group has removed three funds and added five to the firm's rec list, and is currently looking in liquid alts, international, global value and core plus bonds.

Publications