Fidelity Worldwide Investment is making a number of hires to boost its presence in Asia, the firm has confirmed to WealthBriefingAsia.

A report by AsianInvestor recently quoted Chris McNickle, global head of institutional business – based in London – as expecting that the firm’s institutional climb segment will expand faster than the retail side. About 30 per cent of Fidelity’s Asian and European clients are institutional.

“There is growth amongst institutional investors across the [Asian] region and recent policy decisions in Tokyo have accentuated the potential we see in Japan,” McNickle said, referring to the expansionary monetary and fiscal policy of the Japanese government of Shinzo Abe.

“We will hire selectively in Asia-Pacific, he was quoted as saying, but declined to spell out numbers. The firm has 150 investment professionals and 400 institutional and retail distribution staff in the region.