BOSTON--(BUSINESS WIRE)--Global expansion is driving increasing need for more tailored benefit programs for workers living internationally. To meet this need, Fidelity Investments® today announced the opening of its European Global Service Center near Frankfurt, Germany. The center supports clients of Fidelity’s Stock Plan Services business and provides assistance and guidance for employees of U.S. companies who work in Europe and participate in their company’s stock plan.
“With our growing roster of multinational clients, we recognized the importance of having a global service model to provide support in the countries where our clients operate and where their employees live,” said Kevin Barry, executive vice president, Stock Plan Services at Fidelity Investments. “Our new European service center is staffed by a multilingual, multicultural team of stock plan professionals, allowing Fidelity to better support our clients and their increasingly global workforce.”
Among Fidelity’s Stock Plan Services clients, the percentage of employees outside of the U.S. who participate in their company stock plan has grown steadily. Between 2010 and 2014, the number of employees outside the U.S. with stock options and restricted stock has grown by more than a third, while the number of employees outside the U.S. participating in their company’s Employee Stock Purchase Plan (ESPP) has grown by more than half.1
“Our company stock plan is a key part of our employee benefit program,” said Steve Fox, vice president, Financial Shared Service and HR Operations at Thermo Fisher Scientific. “Since we have a significant employee population in Europe, it’s important that they have access to support and guidance from a regional contact who speaks their language, so they can make the most of their participation in our company stock plan.”
The European service center, which opened July 1, operates in conjunction with Fidelity’s three U.S.-based service centers, and provides support in multiple European languages. Representatives provide a broad range of plan-related services, including grant information, activation of accounts, account administration and contribution history.
“The benefits landscape continues to evolve, and company stock plans are increasingly viewed as a key corporate benefit by both employees and employers,” added Barry. “Our European Global Service Center is an important addition to our stock plan service model, and we plan to continue to enhance our service platform as the needs of our clients expand.”
Fidelity is a leading provider of stock plan administration services, with 325 clients worldwide representing $200 billion in grant value.2
About Fidelity Investments
Fidelity’s goal is to make financial expertise broadly accessible and effective in helping people live the lives they want. With assets under administration of $5.2 trillion, including managed assets of $2.0 trillion as of May 30, 2015, we focus on meeting the unique needs of a diverse set of customers: helping 23 million people investing their own life savings, 20,000 businesses to manage their employee benefit programs, as well as providing 10,000 advisors and brokers with technology solutions to invest their own clients’ money. Privately held for nearly 70 years, Fidelity employs 41,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit www.fidelity.com.
Stock plan recordkeeping and administrative services are provided by Fidelity Stock Plan Services, LLC
Fidelity Brokerage Services LLC, Member NYSE, SIPC
900 Salem Street, Smithfield, RI 02917
Fidelity Investments Institutional Services Company, Inc.,
500 Salem Street, Smithfield, RI 02917
National Financial Services LLC, Member NYSE, SIPC,
200 Seaport Boulevard, Boston, MA 02110
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1 Internal Fidelity data; Analysis based on approx. 200 SPS Clients that have been on the platform for five consecutive years (2010-2014).
2 Internal Fidelity data, as of May 2015.