BankTown Banking & Finance News

[carolina1792]

Fidelity Investments adds another 1,500 positions to their RTP operations. They already added 750 positions in early 2021. 

 

https://www.cbs17.com/news/local-news/fidelity-investments-adding-1500-jobs-in-rtp/

Edited September 27, 2021 by carolina1792

[SydneyCarton]

https://www.charlotteobserver.com/news/business/banking/article255458516.html

 

 

Edited November 1, 2021 by SydneyCarton

[KJHburg]

follow up that above from the article" 

""Wells Fargo has officially spun off its asset management business. The new firm, Allspring Global Investments, started operating as an independent firm on Monday,Allspring said in a news release. The company said it will be headquartered in Charlotte. Wells Fargo announced last February that it would sell the business, part of CEO Charlie Scharf’s plan to slim down the sprawling bank. Private equity firms GTCR and Reverence Capital Partners bought the business for $2.1 billion.  The newly independent Allspring manages more than $587 billion in assets and has more than 1,400 employees, according to the company’s news release. It also has more than 18 offices around the globe.""

Read more at: https://www.charlotteobserver.com/news/business/banking/article255458516.html#storylink=cpy

 

[Norm2]

1 minute ago, KJHburg said:

follow up that above from the article" 

""Wells Fargo has officially spun off its asset management business. The new firm, Allspring Global Investments, started operating as an independent firm on Monday,Allspring said in a news release. The company said it will be headquartered in Charlotte. Wells Fargo announced last February that it would sell the business, part of CEO Charlie Scharf’s plan to slim down the sprawling bank. Private equity firms GTCR and Reverence Capital Partners bought the business for $2.1 billion.  The newly independent Allspring manages more than $587 billion in assets and has more than 1,400 employees, according to the company’s news release. It also has more than 18 offices around the globe.""

Read more at: https://www.charlotteobserver.com/news/business/banking/article255458516.html#storylink=cpy

 

Will this business be headquartered in Uptown?

[KJHburg]

1 minute ago, norm21499 said:

Will this business be headquartered in Uptown?

I would assume somewhere uptown or maybe Southend but close in for sure.  

[CLT2014]

1 hour ago, norm21499 said:

Will this business be headquartered in Uptown?

I've heard they will be at Vantage South End from employees.

Edited November 2, 2021 by CLT2014

[atlrvr]

Interesting that they chose Charlotte.  I didn't think the Charlotte office was that large compared to their other offices.  The CEO used to be CEO of Legg Mason in Baltimore, so no obvious connection.

This is a really nice win for Charlotte.  Given it's Private Equity back, I suspect within the next 3 years, they will either acquire/merge with another Asset Manager or sell to one.  Their scale is a little no-mans land.

[15895]

1 hour ago, atlrvr said:

Interesting that they chose Charlotte.  I didn't think the Charlotte office was that large compared to their other offices.  The CEO used to be CEO of Legg Mason in Baltimore, so no obvious connection.

This is a really nice win for Charlotte.  Given it's Private Equity back, I suspect within the next 3 years, they will either acquire/merge with another Asset Manager or sell to one.  Their scale is a little no-mans land.

Edit: I got the Wells Fargo lines of business confused 

Edited November 2, 2021 by AirNostrumMAD

[CltFlyer]

20 hours ago, atlrvr said:

Interesting that they chose Charlotte.  I didn't think the Charlotte office was that large compared to their other offices.  The CEO used to be CEO of Legg Mason in Baltimore, so no obvious connection.

This is a really nice win for Charlotte.  Given it's Private Equity back, I suspect within the next 3 years, they will either acquire/merge with another Asset Manager or sell to one.  Their scale is a little no-mans land.

I don't mean this to add fuel to  the rumor mill fire, but it makes you wonder if they know something internal about the future of Wells Fargo, Charlotte related, that hasn't been announced publicly yet.  I imagine they will want to keep some sort of ties to Wells Fargo.  

 

Unrelated.   This is a great win for Charlotte.  While Charlotte a major hub for domestic banking,  investment banking is still very much lacking.  This could help grow the local talent pool for investment firms looking at Charlotte for future growth.

 

Edit. - After further reading the article.  Wells Fargo still has a 9.9% stake in the new company.  Given the nature and the amount of investment banking in NYC.  You think it would have been very easy to make the Corporate HQ somewhere closer to NYC.  

Edited November 2, 2021 by CltFlyer

[KJHburg]

another big winner in the Braves World Series win is Charlotte based Truist Bank.  In the interviews after the game Truist Park kept being mentioned and not to mention the national TV coverage of the park.  I am sure they are glad they changed the name on that ballpark really quick after the merger. 

[SydneyCarton]

I can’t open this.  Hopefully, it’s good news.

[turbocraig]

19 minutes ago, SydneyCarton said:

I can’t open this.  Hopefully, it’s good news.

Some top-level shuffle.  Creating a new President role to take some of duties off the CEO/Chairman, who’s been performing multiple roles.  Creating a new Head of International position.  They’ve got people named for the roles.  Focusing on organic growth, but not ruling out any M&A.  

[KJHburg]

the Citibank office building is being offered fully furnished for lease.  Where did they go?  This was a mortgage operation at one time but changed.  Now Lincoln Harris is offering it for lease fully furnished and all.  Mmm makes me thinks are they offering this as they entice them to a new office?  Better view it before LH takes it off.

605 Munn Road - Lincoln Harris

[Norm2]

7 minutes ago, KJHburg said:

the Citibank office building is being offered fully furnished for lease.  Where did they go?  This was a mortgage operation at one time but changed.  Now Lincoln Harris is offering it for lease fully furnished and all.  Mmm makes me thinks are they offering this as they entice them to a new office?  Better view it before LH takes it off.

605 Munn Road - Lincoln Harris

Those cubicles are bigger than the ones I used to work in LOL

[navigator319]

Office parks like the one this former Citi office in are depressing. ‘Middle of nowhere’ feel around the area and then when get inside complete mindless and soulless existence.

Novant has a similar corporate office right behind this building. At least they did in 2016 when I interviewed with them their. Good luck getting the best folks to work in these old style ‘office space’ set ups.

They probably can’t give away this space. Maybe they can retrofit into distribution and warehouse spaces as these sit idle long and longer.

[kermit]

51 minutes ago, navigator319 said:

Office parks like the one this former Citi office in are depressing.

My former neighbor was the construction foreman for this building. I was asking him about its layout and his immediate reply was "its a prison."

51 minutes ago, navigator319 said:

They probably can’t give away this space.

Was talking with a different friend in commercial real estate today who, when asked about the industry's view of returning to the office said: "if you are going to ask people to show up at an office these days, it had better be a really nice one"

Edited November 5, 2021 by kermit

[SydneyCarton]

I still expect JPMC to build a tower in Charlotte.

[Matthew.Brendan]

11 hours ago, SydneyCarton said:

I still expect JPMC to build a tower in Charlotte.

Now that they have it disassembled they are just going to ship their old HQ down here. (blue font)

[Blue_Devil]

Kraken, one of the top Crypto exchanges both in size and volume (a Coinbase competitor) has started to hire here in the Charlotte area. 

[Blue_Devil]

Does anyone know if TD Bank has an announced Charlotte Corporate office location? 

[CLT2014]

24 minutes ago, Blue_Devil said:

Does anyone know if TD Bank has an announced Charlotte Corporate office location? 

The Mid-South office is in Ballantyne.

[KJHburg]

Chase Bank is hiring some interesting non branch employees in Charlotte  including Global Security officer at one of Chase's critical facilities here? 

""Global Security (GS) protects the firm's employees and assets around the world. These responsibilities includes the development of both security and safety policies as well as procedures.""

Wholesale Payments, Senior Product Solutions Delivery Manager- VP  looking for one of these in Charlotte too. 

Search Jobs - Chase- Candidate Experience page Careers (oraclecloud.com)

I don't know much about banking jobs but these seem unusual to me for but some of y'all know better than I do.  

what are these other people some of you are saying are looking around Charlotte like to relocate?   Actually building a hub here makes a lot more sense than in the other markets they operate in southeast like Florida or Georgia.  

 

[atlrvr]

So, those jobs are for a "secret" facility here, which is one of several check processing facilities for the IRS.  JPM fills that function (remitting payments to the US Treasury)

Most of ambiguous sounding corporate jobs in Charlotte are related to this specific function, which is housed in a really non-descript building off Tyvola.

[KJHburg]

Then my question is why does everyone seem to think JPMorgan Chase Bank is going to announce some big job expansion here?  Was a facilities guy touring to look at their branches and how that rollout is doing? 

[atlrvr]

https://www.bizjournals.com/charlotte/news/2021/11/23/keybank-acquires-xup-payments-fintech-growth.html

 

Quote

KeyBank is adding to its presence in Charlotte with the acquisition of local financial-technology company, XUP Payments.

The deal closed on Nov. 19. Financial details were not disclosed... 

...KeyBank will keep XUP's employees and allow operations to grow inside the bank's framework, Gavrity said. The intent is to build up capacity and hire talent here, he said. KeyBank already has a local fintech investment banking team.

May said XUP will aggressively build platforms for more niche services. The startup, with an office at The RailYard South End, is also looking for more space in the same area, he said.