Type Private Founders Edward Johnson, III Number of employees 7,000 Founded 1969 | Industry Financial services Headquarters Pembroke, Bermuda Founder Edward Johnson III Parent organization FMR LLC | |
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Key people Abigail Johnson (chairman),
Brian Conroy (president,
financial services) Products Investment management, mutual funds, ISAs, Pensions, Fund platforms CEO Abigail Johnson (Oct 2014–) Subsidiaries Fidelity Investments, Fidelity Biosciences Profiles | ||
Fidelity International, formerly Fidelity Worldwide Investment, is a company that provides investment management services including mutual funds, pension management and fund platforms to private and institutional investors. Fidelity International was originally established in 1969 under the name Fidelity International Limited (FIL) as the international investment subsidiary of Fidelity Management & Research in Boston (see Fidelity Investments) before being spun out as an independent business in 1980. Since then, it has continued to operate as a private company owned by some of its employees and the Johnson family.
History
It was established in 1969 as an international investment subsidiary of Fidelity Management & Research, before becoming an independent business in 1980. Today, Fidelity International handles investments for clients in Europe, EMEA and Asia, while the US-based Fidelity Management and Research handles investments for clients in North America.
In the same year that it was established, an office was opened in Tokyo, followed by London in 1973, Hong Kong in 1981 and Taipei in 1986. In 1990 the first Continental European office was opened in Amsterdam, when a number of Luxembourg funds for Continental Europe and Asia were launched. Expansion has continued, with Fidelity opening an office in India in 2001 and in China in 2004.
In 2012, chief investment officer Dominic Rossi expressed support for a UK government plan to allow shareholders to veto bonus deals for boardroom members in companies, using what The Guardian called "unusually confrontational language for a major investor more accustomed to operating behind the scenes". Rossi has since campaigned to get UK long-term incentive plans extended from three years to five.
As of 2013, Fidelity employs over 7,000 people in 24 countries around the world; Australia, Austria, Belgium, Bermuda, Brazil, China (including Hong Kong), Dubai, France, Germany, India, Ireland, Italy, Japan, Korea, Luxembourg, Netherlands, Poland, Singapore, Spain, Sweden, Switzerland, Taiwan, Tunisia and the UK.
The company is privately owned; the majority of the company is owned by its employees, though the Johnson family still owns a substantial minority of 39.89% according to regulatory filings.