Fidelity to Hire Additional 9,000 Employees Amid Stock Market Boom

[Asia Economy Reporter Yujin Cho] Global asset management firm Fidelity Investments has announced plans to hire 9,000 new employees this year amid a stock market boom, according to a report by the Wall Street Journal (WSJ) on the 31st (local time).

Fidelity plans to increase new hires by 22% this year, bringing the total number of employees to approximately 60,000. The number of new hires expected this year is around 16,000.

Fidelity stated that about 79% of the new hires this year will be assigned to customer-facing roles.

This increase in hiring at Fidelity is due to a surge in demand for personal investment services. WSJ reported that individual investors, who led the stock market rallies last year and this year, have even changed the financial investment industry landscape.

Amid the stock market boom last year and this year, the meme stock craze and the emergence of commission-free stock trading platforms have significantly increased the number of young investors engaging in stock investment.

Accordingly, the demand for call center staff and platform-related technical personnel to support new customers has also surged.

As of the end of June, Fidelity reported that a total of 1.7 million new accounts were opened in the past year, with 697,000 of those accounts opened by young people aged 35 and under.

During the same period, the daily transaction processing volume also rose significantly to 2.6 million, compared to 2.3 million in the same period last year.

This content was produced with the assistance of AI translation services.