Fidelity Investments, one of the largest asset management companies in the world, has announced the creation of a new senior role within its quantitative research and investments technology team.
The new hire will lead the company’s crypto and token research development team, focusing on evaluating tokens and blockchain protocols that underpin the rapidly evolving crypto and DeFi economy.
According to a job advert posted on LinkedIn, the new position will report to the vice president of quant development and collaborate with other Fidelity business and technology leaders to identify and define strategic priorities based on understanding business value needs.
Fidelity has been actively involved in the crypto market for several years, having established an institutional trading and execution services team back in 2018. The company also recently opened up bitcoin and ether trading to its retail brokerage clients and planned to expand its offering by allowing clients to move coins on and off its platform.
Fidelity aims to deepen its crypto expertise with the new senior hire and expand its crypto-related services. The company’s quantitative and technology staff use data to build out various investment strategies for client portfolios. Adding a crypto research lead will enhance the firm’s offerings.
Fidelity’s move comes when the crypto market is experiencing unprecedented growth, with more institutional investors and traditional financial services firms showing interest in the sector. As such, the competition for talent in the crypto space is fierce. Fidelity’s new senior hire is expected to give the company an edge in building its crypto capabilities.
