(Corrects second paragraph to show Fidelity does not own
* Fate of current 1970s-era headquarters under review
* Local move pleases Boston Mayor Menino
BOSTON, Nov 16 Fidelity Investments plans to
relocate its corporate headquarters to a different building in
The closely held fund company said on Friday that it will
move its headquarters to a building it leases at 245 Summer
Street in Boston.
Fidelity currently has 2,900 employees in that building. Its
headquarters currently is several blocks away at 82 Devonshire
Street. Some 600 employees work there and in several surrounding
buildings, said spokesman Vin Loporchio.
Loporchio said Fidelity will study possibilities for the
complex of buildings around 82 Devonshire, which has been
Fidelity's headquarters since the 1970s. This could include the
sale or lease of the properties, he said, and possibly the
relocation of some employees.
"Our new headquarters provides optimum facilities for
integrating our various businesses located in Boston and is
better suited to meet our future needs," Fidelity Chairman
Edward C. Johnson 3d said in a statement.
Keeping its headquarters in Boston will likely please local
political leaders, who have been concerned about earlier moves
by Fidelity to close other offices in Massachusetts as it
shifted jobs to elsewhere, including neighboring New England
"I am very pleased to see their continued interest and
investment in this area of Boston," said Boston Mayor Thomas
Menino in Fidelity's statement. Fidelity's decision, he said,
"is great news for our city."
Loporchio said Fidelity has roughly 6,000 employees in
Massachusetts, 3,400 in Rhode Island and 5,400 in New Hampshire.
(Reporting By Ross Kerber; Editing by Steve Orlofsky)