May 2, 2022 - News

Fidelity to add 1,700 jobs in Research Triangle Park

An iPhone is held in front of a Fidelity Investments logo.

Fidelity has invested heavily into technology, like its mobile apps. SOPA Images/Contributor/Getty Images

Financial services giant Fidelity will add another 1,700 jobs at its offices in Research Triangle Park, the company told Axios.

Details: Axios learned that nearly 800 of the new jobs will be client facing, 700 will be in tech, and 250 are business support.

What they're saying: "We continue to see really strong business results, and lots of engagement from our customers, even though we're in a period of inflation pressures and economic uncertainty," Leslie Walden, head of Fidelity's regional public affairs, told Axios.

Flashback: Last year, Fidelity said it would create more than 1,500 jobs in the Triangle.

  • Walden told Axios they hired nearly 2,000 employees in North Carolina last year.

Fidelity has one of its largest tech hubs in RTP, which is home to around 5,000 employees.

  • The new jobs will include roles like software engineers that work on Fidelity's mobile apps or data scientists, Walden said.

What's next: Many of the hires will come from local universities, like UNC-Chapel and N.C. State.

  • Walden added that Fidelity is also working with Wake Technical Community College and Durham Technical Community College to introduce new classes at the schools this fall to prep potential employees.

The Big Picture: Fidelity is on a huge hiring spree, as it seeks to build more online tools and support a huge surge in individual investors over the past two years. More than 10 million Americans opened new brokerage accounts in 2020, according to research from Deloitte.

  • Fidelity hopes to hire 12,000 more employees nationally by September — mostly in technology and customer-facing roles.
  • It's a signal that it believes consumers still have a big appetite for financial products despite the market facing challenges from inflation, the war in Ukraine and supply-chain issues.
  • The company manages 33.4 million brokerage accounts in the U.S., a figure that is up more than 40% since 2019, The Wall Street Journal reported.

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