Keywords
Citation
(2007), "Reinforcing fidelity: why an investment patriarch sees work yet to do", Strategic Direction, Vol. 23 No. 1. https://doi.org/10.1108/sd.2007.05623aad.010
Publisher
:Emerald Group Publishing Limited
Copyright © 2007, Emerald Group Publishing Limited
Reinforcing fidelity: why an investment patriarch sees work yet to do
Reinforcing fidelity: why an investment patriarch sees work yet to do
Brewster D.Financial Times, August 2, 2006, Start page: 11, No. of pages: 1
Purpose – To feature how mutual fund company Fidelity is undertaking a restructuring exercise. Design/methodology/approach – Reports how Fidelity (the secretive mutual fund company) has recently overtaken Merrill Lynch in becoming the biggest brokerage company in the USA. Provides information on the company’s worldwide assets; evaluates its corporate leadership. Outlines how recent setbacks have forced the company to reappraise its business strategy; looks at the problems besetting the Magellan fund and refers to its recent change in management. Draws on comments made by Bob Reynolds, chief operating officer of Fidelity, to identify how Fidelity is in the process of being restructured with an increased focus on customer service and technology development and a movement away from its mutual funds core business to processing, administration and fund custody. Profiles Bob Reynolds - a fan of the Japanese concept of Kaizan (continuous improvement); presents information on Fidelity’s financial performance; refers to changes made to the company’s structure and investment culture; describes the challenges facing Fidelity with a large number of US baby-boomers coming up for retirement. Originality/value – Examines the reasons behind Fidelity’s restructuring. ISSN: 0307-1766 Reference: 35AU268
Keywords: Corporate strategy, Fidelity, Financial performance, Investments, Organizational change