Fidelity Investment plans to hire nearly 600 people in Covington, KY, adding to hundreds of hires at the financial services company’s Kenton County campus since the beginning of 2020.
A vast majority of the roughly 600 new positions at Fidelity’s Covington office are for unlicensed roles and do not require previous experience in financial services, though the company also is hiring for licensed roles and leadership, operations and technology jobs. Additionally, Fidelity will offer training to new employees who aspire to become certified or learn more about the financial services industry.
“These new jobs come at a time when people are reconsidering what kind of work they want to do, and where they see themselves,” said Kevin Canafax, vice president of regional public affairs at Fidelity Investments. “Fidelity employees help our customers with some of life’s most important financial goals, such as buying a home or planning for retirement. If you care about helping people, there’s a job here for you.”
The new hires will join the nearly 4,700 professionals already working for Fidelity in the Covington area, comprising mostly client and relationship management professionals, operations specialists and technologists. The company’s latest hiring effort adds to roughly 730 jobs created at Fidelity’s Covington campus since the beginning of 2020.
“Fidelity Investments was creating job opportunities for Kentuckians even during the depths of the pandemic, so it’s incredible to celebrate the company’s continued growth today, as our economy surges ahead,” said Governor Andy Beshear. “Fidelity’s commitment to providing Kentuckians with quality job and training opportunities will continue paying dividends as our state positions itself to lead in the post-COVID economy. I am so appreciative of the company’s longtime partnership, and I congratulate Fidelity on its strong, sustained growth in Kentucky.”
Since 1992, when Fidelity first located in Covington, the company’s workforce has increased nearly tenfold in Kenton County. Today, the location serves as the heart of Fidelity’s customer experience, and the company stands as one of Northern Kentucky’s largest employers.
Boston-based Fidelity is also an important corporate citizen for the region, providing free, state-standardized personal finance workshops for hundreds of Kentucky schoolteachers. These programs equip teachers with tools for achieving financial success in life as well as concepts and teaching techniques to help them share this knowledge with their students.
Fidelity’s job creation furthers recent economic momentum in Kentucky, as the state’s economy surges ahead following the effects of the pandemic. Earlier this month, the state budget office reported the commonwealth ended the 2021 fiscal year with a general fund surplus of over $1.1 billion – the highest ever in the commonwealth – and a 10.9% increase in general fund receipts to $12.8 billion.
So far this year, Gov. Beshear and his administration have announced over $2.2 billion in total planned investment in Kentucky from the private sector with new location and expansion projects creating more than 5,000 full-time jobs in coming years. Through May, Kentucky’s average incentivized hourly wage is $23.15 before benefits, a 4.7% increase over the previous year.
“Fidelity has played an enormous role in helping our community recover from the pandemic, and the company’s plans to hire hundreds bode well for our region’s economic future,” said Judge/Executive Knochelmann. “Fidelity’s continued success here demonstrates the high caliber of people we have working in Kenton County and Northern Kentucky as a whole. I’m grateful for all Fidelity continues to do for our community.”
“As a member of the Kentucky House of Representatives, I sponsored the legislation that smoothed the way for Fidelity’s arrival in Covington nearly three decades ago, and in the time since, the company has been a tremendous corporate partner and has played a key role in our city’s development,” said Covington Mayor Joe Meyer. “We remain committed to helping Fidelity grow and thrive here for years to come.”
“Fidelity’s significant investment and addition of hundreds of new, well-paying financial services career opportunities demonstrates there is an educated, available talent base in the Cincinnati region,” said Northern Kentucky Tri-ED CEO Lee Crume. “We appreciate their bullish approach to the post-pandemic recovery and growth strategy at their Northern Kentucky campus.”
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