Fidelity Investments is planning to add more than 500 jobs in Texas as part of the company’s wider 2023 hiring objective.
The Boston-based financial services firm said it plans to hire up to 4,000 new workers in the first half of 2023, with an expected 502 customer service and tech jobs heading to Texas, according to reporting by the Dallas Business Journal.
Fidelity Investments already has a strong presence in the Lone Star State, with the majority of the firm’s Texas-based workers employed at the company’s Westlake facility.
At the end of 2022, Texas was the U.S.’s largest Fidelity region, with more than 9,000 workers employed across the state. Fidelity’s total employee base accounts for more than 68,000 associates across 13 global regions, according to the firm’s annual 2022 financial report.
Still, the recent surge in engagement by customers and growing demand for Fidelity’s services has pushed Head of Talent Acquisition Kirsten Kuykendoll to focus on the firm’s long-term strategy over short-term profits.
Fidelity has seen an “unprecedented level of engagement” from customers who are still navigating “the financial impact of the global pandemic,” record high inflation, and surging interest rates, according to Kuykendoll, as reported by The Dallas Morning News.
Because of this unexpected demand, Fidelity has been “focused on hiring” in order to support customers’ ongoing financial needs, she said.
“In 2022, Fidelity filled more than 17,000 associate roles across all job functions, including customer experience, technology, product management, and investment research,” Fidelity’s Chairman and CEO Abigail Johnson said in her Chairman’s Letter from the 2022 report.
The letter continued by noting that the company “invested $4.2 billion to maintain, enhance, and upgrade the company’s technology systems.”
With $10.3 trillion in assets under management, Fidelity is one of the leading wealth management firms. Last year, the company reported a record-high $25.2 billion in annual revenue, a 5% boost from the year before, according to its 2022 report.