regional office in WestlakeAccording to the private company’s, the continued hiring spree comes as Fidelity reported record-high revenue in 2022 of more than $25 billion, a 5% uptick over 2021. The growth came even as the S&P 500 nosedived more than 19%, due largely to the fact that its customer base jumped substantially across a range of offerings.
The firm was set to hire nearly 1,000 employees in at its Westlake hub in North Texas last year. The Westlake regional office is the largest regional hub for Fidelity.“long-term view to investing in our overall workforce and our people, just as we do in our businesses.” According to CEO Abby Johnson, now is the time to double down on investments in people, technology and services to keep the growth going.
Last year's market slide did hit Fidelity’s mutual funds and managed accounts, driving discretionary assets down 13% to $3.9 trillion. But that total still makes the company one of the world's top money managers, behind only BlackRock, which had nearly $9 trillion assets under management as of the end of December, and Vanguard with $8 trillion. State Street wrapped up 2022 with about $3.5 trillion in assets under management.