Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Fidelity Revisits its Expansion Plan in North Carolina Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, February 19, 2009

Fidelity Revisits its Expansion Plan in North Carolina

by: Armie Margaret Lee

Fidelity is re-thinking the need for a new building at its Research Triangle Park campus in view of the recession and the prior expansion the firm has made in the area, The News & Observer reports. It's also uncertain whether the Boston Behemoth will hit its goal of creating 2,000 jobs locally by the end of the year.

In 2006, Fidelity announced an expansion in the area (see The MFWire, 08/03/06). Since then, it has added 1,400 jobs in RTP.

"We are in the early part of 2009 right now," Fidelity spokeswoman Anne Crowley told the pub. "So really it is premature for me to speculate where we will be at the end of 2009 ... I think everyone understands the economy has had an impact worldwide on every industry."

When Fidelity made its announcement in 2006, it planned to put up another building in RTP.

"We are just stepping back and taking a look at our long-term needs ... in light of the fact that circumstances have changed," Crowley said.

Fidelity bought 269 acres in RTP in 2006, then purchased a 155,000-square-foot data center at a second RTP site in 2007.

"We can certainly accommodate our needs with the existing space we have and the data center we've acquired," Crowley said.

She added that Fidelity is "very committed to North Carolina."

Like its peers in the asset management industry, Fidelity has cut staff amid the market downturn and a weak economy. It started a two-part layoff in the fall of last year, and implemented the second round earlier this month. The cuts affected roughly 7 percent of the its workforce of 44,000. It was not clear how many where affected in North Carolina.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MFDF webinar - Gender Bias in Investment Professional Evaluations, March 9
  2. FinReg Outlook 2021, March 10
  3. MFDF Director Discussion Series - Open Forum via Zoom (Midwest), March 10
  4. Irish Funds North American Digital Seminar, March 11
  5. Nicsa webinar - Listen, Learn & Lead: Empowering and Sponsoring Women, March 11
  6. MFDF webinar - Municipal and Taxable Fixed Income — A Multi-Speed Recovery, March 12
  7. 2021 Virtual Mutual Funds and Investment Management Conference, Mar 15-19
  8. Women for Impact - A Call to Action, March 16
  9. SEC & DOL Standard of Conduct Rulemakings — Present & Future Considerations, March 23
  10. Expect Miracles Foundation's Virtual Mystery Game Night, March 24
  11. MFDF Director Discussion Series - Open Forum via Zoom, March 24
  12. ETFGI Global ETFs Insights Summit - ESG & Active ETF Trends, Mar 24-25
  13. MFDF webinar - Asset Management M&A for Fund Directors — Recent Trends and Governance Issues, March 31
  14. MFDF Director Discussion Series - Open Forum via Zoom, April 7
  15. MFDF In Focus: Board Oversight of Sub-advisers, April 15
  16. ETF.com Awards 2020, April 20
  17. The 31st Sub-Advised Funds Forum, Apr 20-21
  18. MFDF Director Discussion Series - Open Forum via Zoom (Northeast), April 21
  19. FIASI virtual event - ESG in Fixed Income: Shining a Light on Transparency, Apr 22-23
  20. 44th Annual AIMSE Marketing & Sales Conference, May 2-4
  21. MFDF Director Discussion Series - Open Forum via Zoom (Southeast), May 5
  22. ICI 2021 General Membership Meeting - Day 1, May 6
  23. ICI 2021 General Membership Meeting - Day 2, May 13
  24. 2021 FINRA Annual Conference, May 18-20
  25. MFDF Director Discussion Series - Open Forum via Zoom, May 19
  26. 2nd annual ETFGI Global ETFs Insights Summit - USA, May 19-20




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use