Next Bank Tower?

[atlrvr]

Well, I think several new bank towers are on the horizon, but does anyone think that Citigroup's new restructuring announcement today will result in a boost for Charlotte?

"More than 9,500 jobs will be moved to lower-cost locations, both domestically and internationally, with about two-thirds through attrition," the report said.

[ChiefJoJo]

Technically, since the question was about a Bank HQ locating in Charlotte, I din't think any of those listed will move, unless you count an aquisition by BA or Wach. Maybe BB&T?

RBC moved to Raleigh because they were HQ'ed in Rocky Mount, and moving to Raleigh was a fairly easy sell for their employees and top execs (being 45 min down the road). The fact that Raleigh is spent a lot of money of Fayetteville St and downtown certainly provided a boost and a prominent site on which to build. Also, add in the pre-exisiting relationship via naming rights for the RBC Center arena, and some existing RTP corporate connections to Toronto (Nortel) and it was a pretty clear choice I think. Beside, Charlotte can't get ALL the banks.

BTW, did anyone catch this? Citigroup to lay off 17,000, many at it's NY HQ.

[eastsider]

^No, the question was not about a headquarters relocating to Charlotte, it was: What company that does not have it's HQ in Charlotte will build a new tower here?

I don't think anybody thinks that RBC or any other banks will be moving their HQ to Charlotte anytime soon.

[ChiefJoJo]

Yep, I misread the title. I guess it may be answered soon if RBC signes on 300 S Tryon. That seems to be a good possibility.

[uptownliving]

Well, I think several new bank towers are on the horizon, but does anyone think that Citigroup's new restructuring announcement today will result in a boost for Charlotte?

It seems like Charlotte would be a logical choice for moving some corporate functions, especially in the retail banking division.

[queensguy06]

The building in Fort Mill is just a call center, they have them all over the country. It would make much more sense for Citi's banking to be downtown than 30 min. out in Fort Mill.

[A2]

I actually see Citi moving those 9500 to where all corporations are moving operations....Overseas.

Sorry, but that is just the way I see it.

A2

[monsoon]

Indeed. They are most likely joining some other very well known banks on this forum by sending these jobs to India. They just won't admit it because the jobs will go there quietly.

[swh1972]

Not all jobs at Citi will be cut from the U.S. This is a very large worldwide corporation with significant presence in many countries. Some of the jobs being cut from "high cost" cities include those in London, which may be moved to Eastern Europe.

[swh1972]

Sources have said that BofA has agreed to purchase LaSalle Bank from ABN Amro, as ABN and Barklays near their own deal. This would greatly increase BofA's presence in Chicago and the Midwest. Formal announcement should come Monday or Tuesday.

Don't think this will mean anything directly for Uptown development, but a $21 B purchase is no small potatos.

[Eastwestrob]

Sources have said that BofA has agreed to purchase LaSalle Bank from ABN Amro, as ABN and Barklays near their own deal. This would greatly increase BofA's presence in Chicago and the Midwest. Formal announcement should come Monday or Tuesday.

Don't think this will mean anything directly for Uptown development, but a $21 B purchase is no small potatos.