RESEARCH TRIANGLE PARK – Fidelity Investments will continue to hire workers in the Triangle, especially as the financial company continues to expand its customer base. Despite economic challenges leading to thousands of layoffs in the tech sector, Fidelity keeps posting “help wanted” signs.
The most recent WRAL TechWire Jobs Report noted that Fidelity Investments is hiring for 635 roles that could be based in the Triangle.
In the firm’s most recent quarterly update regarding its business, Fidelity disclosed that the number of retail accounts has increased by 11% year-over-year while workplace plan participant accounts increased by 9% and custodial accounts increased by 8%.
Along with the growth in accounts, Fidelity reported that there has been an increase of 33% in the number of investor center and regional center appointments compared to the prior year and a 26% increase in the number of daily average trades.
To support those customers, Fidelity has been hiring for associate positions in the company’s Research Triangle Park office.
Overall, the company brought on board more than 5,400 new hires in the third quarter, according to its report, and 16,000 new employees through September 30, 2022.
Of those workers, 2,200 are based in North Carolina, a spokesperson for the company told WRAL TechWire. About 800 of those roles serving in the company’s technology division. The majority of those roles were ones that were meant to support the firm’s continued customer growth and the increasing number of customer interactions.
Ramping up hiring
Fidelity’s hiring push began in May 2021, when the company announced it would hire 500 workers in the Triangle to build out a new business function for the company.
“We’re increasing the number of customer-facing employees to support not only unprecedented client growth and engagement, but also our associates who work hard every day to help our customers,” said Rob Merdes, Market Leader for Fidelity Investments in North Carolina, in the May 2021 announcement.
Then, in September 2021, the company announced it would expand the team in the Triangle, again, with plans to add 1,500 additional workers for positions that do not require college degrees.
In May 2022, the firm again announced it planned to hire workers. This time, the target number was 1,700 workers, the majority of which were expected to work from the firm’s Research Triangle Park campus.
The privately-held firm announced in April 2022 that it would hire 12,000 workers across the United States by the end of the third quarter of the year. Further, a statement in May projected the firm’s third consecutive year of record-setting hiring.
In 2020, the company added 7,200 workers. In 2021, the firm added 16,600 new employees.
The Fidelity spokesperson told WRAL TechWire that the company “expects to finish 2022 with as many as 68,000 employees, up about 19% from the start of 2021.” At the end of 2020, the spokesperson noted, the company employed 49,000 associates.