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Concept
Fidelity Investments
Summary
Fidelity Investments, commonly referred to as Fidelity, earlier as Fidelity Management & Research or FMR, is an American multinational financial services corporation based in Boston, Massachusetts. The company was established in 1946 and is one of the largest asset managers in the world with 10.3 trillion. Fidelity Investments operates a brokerage firm, manages a large family of mutual funds, provides fund distribution and investment advice, retirement services, index funds, wealth management, securities execution and clearance, asset custody, and life insurance.
The "Fidelity Fund" became Fidelity Investments under Edward C. Johnson II; incorporated in Massachusetts, May 1, 1930. During the Great Depression, the "Fidelity Fund" was the only fund approved by
John C. Hull in his term in office as Securities Director for Massachusetts because of widespread bank failures in 1930. The corporate structure changed in 1946; it is now known as Fidelity Management & Research (FMR).
In 1969, the company formed Fidelity International Limited (FIL) to serve non-U.S. markets and subsequently spun it off in 1980 into an independent entity owned by its employees.
In 1982, FMR company started offering 401(k) products. In 1984, it offered computerized stock trading.
In 1997, Robert Pozen was named CEO.
In 2001, Geode Capital Management was established to run and incubate investment strategies for FMR. In 2003, it was spun off as an independent company.
In 2003, the company launched its first ETF, called the Fidelity Nasdaq Composite Index Tracking Stock Fund (ONEQ).
In 2010, Fidelity Ventures, its venture capital arm, was shut down, and many of the employees created Volition Capital.
In 2011, Fidelity changed the name of its international division from Fidelity International to Fidelity Worldwide Investment and a new logo was introduced.
In 2012, the company moved its Boston headquarters to 245 Summer Street.
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