Fidelity to sever ties with US research arm

Fidelity Worldwide Investments (FWI), which serves the UK market, is hiring a team of in-house US analysts as it prepares to sever ties with its Boston-based research arm.

Dominic Rossi (pictured), the firm’s global CIO for equities, is set to recruit a total of 17 investment professionals over the next year as FWI becomes an entirely separate entity from Fidelity Management and Research (FMR). The two groups first split apart in 1979 when Fidelity International Limited (FIL), now known as FWI, became a legal entity independent from FMR. The two businesses will soon cut their remaining ties, Investment Week understands. Consequently, FWI’s portfolio managers investing in the US market will no longer have access to analysis from the Boston team, and the ...