Fidelity planning major expansion into Canada

There is no reason why this type of operation – at least the back office part – couldn’t be in New Brunswick.

Fidelity Investments, the second-largest clearing broker in the United States, is planning a multi-million-dollar expansion into the clearing business in Canada.  Clearing brokers ensure that trades are settled, finance margin accounts and maintain the paperwork behind trades.  Nothing has been finalized, but sources indicate that Fidelity has begun hiring senior executives who would staff the Canadian venture and has contacted regulators in this country.

This is exactly what Halifax has done with its attraction of financial services back offices to that city.

But this is Canada and I suspect that NB is not even on the short list.

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2 Responses to Fidelity planning major expansion into Canada

  1. Well you have to walk before you can run. Fidelity is probably looking to locate where there is already a sizable financial community. Moncton isn’t that, yet.

  2. Anonymous says:

    NB has done all it can to prevent progress. Great job.

    One of the self-described architects of Atlantica says the cross-border regional trade movement has not caught fire in much of the New England business community.

    Enlarge Photo Matthew Sherwood/Telegraph-JournalTim Curry, president of Atlantica Centre for Energy, says from his industry’s view, the concept of Atlantica has thrived. ‘From an energy perspective, there is a lot going on in cross-border developments,’ he says, pointing at the natural gas that has started flowing south from the new Canaport LNG regassification terminal in Saint John. ‘So long as we’re identifying and working with our neighbours on both sides of the border to achieve those benefits, I don’t care if it has that Atlantica label or not,’ he says About a decade after Perry Newman sparked interest by hosting weekend seminars on the concept in Pugwash, N.S. with Brian Lee Crowley – founding president of the Atlantic Institute for Market Studies – Newman says a large segment of the U.S. East Coast hasn’t been convinced to look north to do work.

    “The value proposition needs to be articulated,” said Newman, president and founder of Atlantica Group LLC, a Portland, Maine-based consultancy focused on international business growth.

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