Fidelity Investments has been making a push to hire and promote more women amid a quiet but seismic shift in wealth.
There is an estimated $22 trillion in assets currently being transferred to women, while men still make up three out of every four licensed professional in the industry, Fidelity’s President of Personal Investments Kathleen Murphy said in a recent interview with the Dallas Business Journal.
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The Boston company started a program in its sprawling Westlake campus that gives women a chance to apprentice in general management roles that have traditionally been reserved for men on Wall Street. Through a two-year program, select employees were rotated into challenging positions across several of its business units and eventually graduated into higher roles.
Fidelity Investments now says about 40 percent of its employees are women. The businesses Murphy oversees include $2.4 trillion in assets under administration spread over more than 19 million client accounts.
“Our associate base ought to reflect the overall client base we serve,” Murphy said after speaking at a Dallas Regional Chamber event.
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