BOSTON — Fidelity Stock Plan Services, the division of Fidelity Investments that provides companies with recordkeeping and administration services for their equity compensation plans, today announced expanded global capabilities to service multinational clients.
In recent years, Fidelity Stock Plan Services has taken several steps to enhance its ability to service global clients, including:
- The opening of a European Global Service Center in Frankfurt, Germany.
- Support for stock transactions in 130 currencies.
- Launch of Latin American and Asian language desks to provide multi-language customer support and complement Fidelity's NetBenefits website, which is available in more than 15 languages.
- Naming Mitan Patel as the European Regional Lead, where he will develop business opportunities for Fidelity Stock Plan Services in the UK and Europe.
Fidelity's stock plan platform currently supports more than two million workers worldwide, representing more than 400 companies from a variety of industries, markets and geographies. With his years of experience and industry expertise, Mitan will work closely with organizations that seek to provide a consistent level of service and support for their global equity compensation platform to all of their employees, regardless of where they are based.
"As companies continue1 to expand their global workforces, we’re increasingly seeing interest for employee benefit platforms that can meet the needs of workers in multiple countries," said Mark Haggerty, Head of Stock Plan Services, Fidelity Investments. "Mitan’s multinational experience and deep understanding of the equity compensation industry can help Fidelity continue to develop our global capabilities and strengthen our ability to service clients, and their employees, outside of the U.S."
Prior to his current role with Fidelity, Mitan was in charge of global sales and marketing for Equatex in London, and currently serves on the board of the Global Equity Organization, an international network of equity compensation professionals, with more than 3,500 active members from more than 70 countries around the world. Mitan will be based in London and be part of Fidelity International.2
Note to Editors: Fidelity’s Stock Plan Services
- Fidelity's Stock Plan Services provides companies with a full range of equity compensation services, including recordkeeping, trade execution and employee services for restricted stock plans, performance plans, stock options and employee stock purchase plans.
- Fidelity's Stock Plan Services platform now supports 418 employers and 2.2 million workers, and represents $154 billion of "in the money"3 value.
- Fidelity Stock Plan Services launched an Asian Language Desk in 2016 that provides phone support in Japanese, Mandarin, Korean and Malay. This followed the 2015 opening of Fidelity’s European Service Center in Frankfurt, Germany to provide support in German, French, Spanish, Italian, and Portuguese (in addition to English).
- The level of support provided by Fidelity to employees outside the U.S. has been recognized by Group Five®, an independent corporate research and consulting firm that analyzes and benchmarks the stock plan administration market.
Biographical Information for Mitan Patel
- In his new role, Mitan is responsible for exploring business opportunities for Fidelity Stock Plan Services in the U.K. and Europe.
- He has held several business development positions throughout his career, including roles with Computershare, Morgan Stanley and Citigroup.
- Mitan most recently was in charge of global sales and marketing for Equatex in London.
- He is a member of the board of directors for the Global Equity Organization (GEO), an international non-profit association dedicated to building and enhancing a worldwide network of equity compensation professionals. GEO is the leading international membership organization for global employee share plan professionals.
- Mitan received a bachelor of mechanical engineering from Brunel University in London.
About Fidelity Investments
Fidelity's mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $7.0 trillion, including managed assets of $2.5 trillion as of June 30, 2018, we focus on meeting the unique needs of a diverse set of customers: helping more than 27 million people invest their own life savings, 23,000 businesses manage employee benefit programs, as well as providing more than 12,500 financial advisory firms with investment and technology solutions to invest their own clients’ money. Privately held for 70 years, Fidelity employs more than 40,000 associates who are focused on the long- term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.