Can Fidelity Spend Its Way Back To Fast Growth?

As rivals retrench, Bob Reynolds bets big on new technology

Robert L. Reynolds, chief operating officer of Fidelity Investments, is sitting in the catbird seat. All across Wall Street, competitors are firing employees or scraping to cut costs in the wake of last year's stock market decline. But Reynolds is going on the attack. After taking over Fidelity's top operations post seven months ago, he's aiming to make his mark and boost growth--which averaged 25% in the 1990s--for Fidelity with sharply stepped-up spending on technology. "We're on a total offensive right now," he says.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.