Fidelity International is actively recruiting additional personnel to accelerate the growth of its active exchange-traded fund (ETF) business, according to a senior executive. The firm is seeking to capture a larger share of Europe's rapidly expanding active ETF market, where it currently lags behind competitors such as BlackRock and JPMorgan.
Hiring Plans and Strategic Focus
Nick King, Fidelity International's head of ETFs, stated in an interview that the company plans to hire more staff across sales, product development, and portfolio management roles. The expansion is part of a broader push to build out its active ETF capabilities, which King described as a “key strategic priority” for the firm.
Fidelity International currently manages about $1.5 billion in active ETF assets, a relatively small sum compared to its overall $800 billion in assets under management. King noted that the firm aims to increase this figure significantly by offering a range of actively managed strategies, including equity and fixed-income ETFs.
Competitive Landscape in Europe
The active ETF market in Europe has grown rapidly, with assets under management reaching nearly $100 billion, according to data from Morningstar. BlackRock leads the market with its iShares brand, while JPMorgan has also made significant inroads. King acknowledged that Fidelity International is “playing catch-up” but expressed confidence in the firm's investment capabilities and brand recognition.
“We have a strong track record in active management, and we believe we can differentiate ourselves by offering strategies that are not easily replicated by passive ETFs,” King said. “The key is to educate investors and advisors about the benefits of active ETFs.”
Product Innovation and Distribution
Fidelity International has already launched several active ETFs in Europe, including the Fidelity Global Quality Income ETF and the Fidelity Sustainable Global Equity ETF. The firm plans to introduce more products in the coming months, focusing on areas such as emerging markets and thematic investing.
King emphasized the importance of distribution partnerships with wealth managers and private banks, which are increasingly adopting ETFs as part of their portfolio construction. “We are seeing strong demand from intermediaries who want access to active strategies in an ETF wrapper,” he added.
