"The company.... says it [is].... expanding its London office and planning to hire more investment professionals in Hong Kong and Tokyo"
As they CUT AMERICAN JOBS, 'eh?
"Fidelity is hiring while laying off 3,000; Boston mutual fund giant sees analysts as way to better results" by Ross Kerber, Globe Staff | March 21, 2009
Boston financial giant Fidelity Investments is adding as it subtracts.
The mutual fund company, in the midst of laying off at least 3,000 employees including analysts at its investment unit, is also hiring. The company is adding new analysts and other investment professionals, and says it plans to expand research offices in Hong Kong and Tokyo this year.
While many companies retrench during a recession, Fidelity's moves show how some businesses do more than just hunker down and wait out a downturn; even though the stock market collapse has hit everyone in the investment world, specialists who follow the company say Fidelity is trying to move forward with new blood to improve its stock-picking after many of its mutual funds turned in grim performances in 2008....
In the report, Fidelity described how it "remained committed to fundamental research" such as expanding its London office and planning to hire more investment professionals in Hong Kong and Tokyo. Fidelity also soon plans to open an office in Miami focused on Latin American investing....
Yup, anywhere but here in AmeriKa.
Christopher Davis, an analyst who follows Fidelity for Chicago research firm Morningstar, said the emphasis on foreign investments makes sense for the company given how much competition there is already for research on large companies in the United States....
--more--"
(Blog author just shaking his head; he is to dejected and saddened to comment. You are getting fucked, America, with a capital F on the end of the dildo.)
