Complex sentence: Fidelity International was originally established in 1969 under the name Fidelity International Limited (FIL) as the international investment subsidiary of Fidelity Management & Research in Boston (see Fidelity Investments) before being spun out as an independent business in 1980.
Split into simpler sentences: Fidelity International was originally established in 1969 under the name Fidelity International Limited (FIL). It began as the international investment subsidiary of Fidelity Management & Research in Boston (see Fidelity Investments) before being spun out as an independent business in 1980.