Fidelity's agency broker unit, Fidelity Capital Markets, is adding 100 New York slots for traders and support staff for a new trading floor slated for completion in this year's second quarter.
The firm is hiring in equities, fixed income, sales, sales trading and prime brokerage and other areas, Fidelity Capital Markets Services President Mark Haggerty told Advanced Trading, an industry Web site.
Key decision-makers over the new team are Mathew McConnell, who came aboard in January as senior vice president and head of sales trading for institutional equities, and Mike Cashel, head of Fidelity's institutional equity division.
Fidelity Capital Markets already has hired 10 to 12 people in New York for three growth businesses: prime brokerage, transition management and commission sharing arrangements. The recent hires previously worked for Bear Stearns, Bank of America and BNY ConvergEx, among others, Advanced Trading says.
The trading floor is being built in the Rockefeller Center area of midtown Manhattan. Fidelity Capital Markets currently employs about 400 traders and staff in Boston, and also has a small trading room in downtown Manhattan. Many of its clients are hedge funds based in midtown and in Connecticut.
"We believe in this market we can pick up some great talent," Haggerty says.