Consolidation Pays Big Dividends for Fidelity

Operator Leonard Butler (left) discusses a job being produced on the Xerox Color Press 1000 with Manager Steve Coogan.

DPS staff members stand in the in-plant’s wide-format printing area. Back row, from left: Paul Colameta, Mark Mass, Leonard Butler, Fred Wells and Scott Angeloni. Front row, from left: Timmy Nguyen, Martha Fonseca, Kwan Yue, Bob Coughlin and Brian Cafarella.

The senior management team at Fidelity Investments Document Printing Services stands outside their Boston headquarters. From left: Jamie Mannion, Michael Luzzo and Steve Coogan.

From left: Steve Coogan, senior manager, Jamie Mannion, senior director, and Michael Luzzo, vice president, stand outside Document Printing Services’ Boston facility.

Consolidating four printing operations into one has already saved $1 million in costs for Fidelity Investments’ Document Printing Services. An influx of new equipment and software enhancements promises to further boost efficiency and effectiveness.

It has long been said that trust is the hardest thing to earn and, when lost, virtually impossible to regain. For many people, the most difficult decision is entrusting a stranger or an entity to provide maintenance and care to our loved ones and money. Reputation and results are everything. An epic failure irrevocably damages custodians of family and finances. There are no second chances.

On the fiscal end, Fidelity Investments is a leading mutual fund company that provides comprehensive workplace savings plans and is synonymous with Individual Retirement Accounts (IRAs). It counts retirement planning, portfolio guidance, brokerage services and other financial products among its dossier of products for 20 million-plus individuals and institutions. Fidelity has $3.74 trillion in assets under administration, including $1.65 trillion of managed assets.

For a firm that maximizes return through sound investment strategies, the company itself must embody these principles in its internal operations. Not surprisingly, Fidelity Investments’ in-plant, Document Printing Services (DPS), mirrors its parent company’s core values. Its mission is to provide its inward-facing clients with high-quality, efficiently produced materials via its 9,000-square-foot facility at the Boston headquarters or through its remote locations in Westlake, Texas, and Salt Lake City.

The commander in chief of DPS is Michael Luzzo, vice president of Fidelity Investments, and a dyed-in-the-wool company man. Luzzo has guided DPS through the greatest transformation in its 40-odd year history—a consolidation that concentrated four New England printing facilities into one. It included an equipment change-out and software augmentation that is making the in-plant sleeker, and increasing effectiveness and efficiency.

Relevant to the Corporation

Make no mistake about it, serving the overall mission of Fidelity Investments is the alpha and omega of Luzzo’s objectives. But it is that singularity of focus that has compelled Luzzo and his 23-employee crew to deliver an offering that enables it to remain relevant to the corporation.

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