The capital markets arm of mutual fund giant Fidelity Investments plans to expand its ranks of traders, sales and other staff by 20% this year, even as Wall Street rivals slash jobs.

Fidelity is building out such businesses as stock trading, prime brokerage for hedge funds and municipal bonds.

Last year Fidelity’s capital markets arm expanded by 25% to about 400 people, and plans to add another 80 jobs this year across various businesses.

Fidelity Investments is an investment company which consists of two independent but closely cooperating companies — Fidelity Management and Research LLC, founded in 1946 and serving North America; and Fidelity International Limited, spun off in 1969 and serving the rest of the world.