Fidelity seeks to grow institutional client base

Fidelity Worldwide Investment says it will be making selective hires in the coming months as it strives to position itself to tap Asia’s swelling pool of institutional assets. Some 70% of Fidelity’s Asian and European clients are retail investors and 30% are institutional at present. But Chris McNickle, its global head of institutional business based in London, anticipates  the institutional segment will accelerate faster. “We expect both businesses to grow, but institutional ha…