Articles tagged "Fidelity Investments"
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Fidelity and Schwab oddly take opposite sides on issue critical to money market funds as an SEC, alarmed by systemic risks, puts NAVs under spotlight
The Boston and Westlake, Tex., providers disagree about whether the once sacred $1 net asset value should now float accross prime money market funds -- and potentially municipal money market funds.
May 10, 2021 at 5:28 PM
Fidelity Investments is set to make 4,000 new hires at the same time senior staff may accept buyouts, an arbitrage to match talent with digital needs
The Boston giant is now advertising approximately 2,500 'client-facing' roles, in addition to the 5,150 it filled last year. It will also bump its technology headcount by 10% and hire 1,000 new financial planners.
April 20, 2021 at 9:06 PM
Envestnet, Orion and Schwab will all launch crypto capabilities soon enough, insiders say, but Damon Deru just beat them all to market with more than a hack
AdvisorPeak launched a virtual means for RIAs to trade, rebalance and custody cryptocurrencies with Prime Trust; Fidelity will soon add Ethereum
April 15, 2021 at 6:04 PM
Brooke's Bits: Charles Goldman's SPAC has a 'unicorn' pitch• Why Fidelity's bitcoin ETF application might have a shot • Investment bank to RIAs makes amends with staff who cranked out deals in overwrought 2020
The ex-AssetMark CEO says his new gig is anchored by a well-oiled team • Fidelity has crypto heft and bitcoin's history moved a decade in a year • Moelis pays $10,000, in installments
April 1, 2021 at 9:36 PM
'Several of the largest RIA firms' move assets to Ethic, enough for Fidelity Investments to join the start-up's $29 million B round
The Boston giant doubled down on the New York City firm, encouraged by internal RIA flows and after seeing Schwab, Morgan Stanley and BlackRock all make moves toward hyper-personalized indexes in 'white-hot' market.
March 31, 2021 at 2:19 AM
Schwab and Fidelity join other Fortune 500-size companies, sticking with CDC guidelines and declining the Texas roll-back of COVID-19 restrictions
The two retail finance giants keep restrictions on thousands of staff in Texas even as governor nixes mask mandate and opens businesses 100% in the name of business interests.
March 6, 2021 at 5:03 AM
Fidelity Investments leaps back to the future in an experiment to restore active management to its lofty perch, using technology that is still more science fiction than fact
The Boston giant is renting a special corner of Amazon's cloud to remake Monte Carlo and do hyper-quant investing like an AI Peter Lynch, with no experience as a golf caddy.
December 21, 2020 at 11:45 PM
Fidelity Investments applies its proven Peter Jubber to its unproven bitcoin unit and its launch of Fidelity Digital Funds signals it's all in on blockchain currency
By launching Fidelity Digital Funds under an 18-year seasoned exec, the Boston giant is signalling no let-up by putting something scarcer than capital into the crypto-pot -- its seasoned talent
September 9, 2020 at 2:20 AM
Fidelity, Schwab, Robinhood and even (days numbered) TD Ameritrade are hiring thousands of staff -- even as Merrill Lynch hits a snag-- what's that say about free trading?
Schwabitradehood's growing pains aren't just in website glitches but also to keep hold times to a mimimum in the phone service queue
September 1, 2020 at 1:37 AM
Fidelity bags $13 billion AUM digital assets win to its custody, as federal regulators attempt to move Bitcoin custody from 'weirdo websites' to mainstream banks
Backed internally by CEO Abby Johnson, the Boston giant spent five years working in silence on its crypto subsidiary, Fidelity Digital Assets. In 2018, it launched. Now clients, like Kingdom Trust, with RIA assets, are validating Abby's gamble.
July 29, 2020 at 7:27 PM
Fidelity Investments intends to 'hard close' two institutional money market funds to curb exposure to COVID-19's high-volatility market
Each fund is of the prime institutional money market that comprises up to 7% of the $4.6 trillion US money market fund industry, but use has dwindled from $1.1 trillion in 2011 to today's $356 billion.
June 23, 2020 at 1:35 AM
A last lion of the Ned Johnson era, Gerry McGraw, vacates the Fidelity CFO spot for Maggie Serravalli, and makes evident Abby Johnson's 'phenomenal' women strategy
McGraw was credited with steely leadership during the 2008-2009 financial crisis but also bridged the management revamp toward a big bet on what women can do better in the next decade.
June 12, 2020 at 3:52 AM
When Interactive Brokers sweetened its RIA custody offering in 2019, it worked -- so now it's investing in more sugar
The Greenwich, Conn. custodian now has 25,000 funds on its supermarket, new simplified trading software and a heightened sense of urgency as Wall Street scoops up competitors
June 3, 2020 at 4:43 PM
Tired of having their screens scraped, Schwab and Fidelity launch API initiatives to curtail the practice -- rewarding some, but not all scrapers with cleaner data
Opening up their APIs gives both powerhouses the ability to share data while also making it more secure -- it also puts them back in the driver's seat in choosing who gets it.
May 29, 2020 at 4:45 AM
As COVID-19 crisis grows, Schwab charts own course, orders office workers to stay put, while Fidelity, other firms urge employees to work from home
Fidelity CEO Abby Johnson tells 45,000 staff to stay home, if possible; Schwab CEO Walt Bettinger says it's neither practical nor technologically feasible for most of his 19,000 staff to telecommute
