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I know that these firms, and all large firms everywhere, have an emergency plan for relocation with offices available in dispersed locations. Weather disasters, terrorism, and other possible issues require they have reserve capacity and access to data in secondary sites. Would they use those locations as their "geographically distributed workforce"?

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12 hours ago, atlrvr said:Citigroup has a large office of multiple roles in Fort Mill, and would expect that to grow.  AIG, Nomura, CIT, Moody's, Refinitiv would all be firms that have reason to grow substantially here.

One company I don’t here much about is TIAA, they’re headquartered in NYC and their bank subsidiary in Jacksonville but have a presence in University. Seem like they’d be a good fit for a HQ relocation to Charlotte, they’re F500 but not as prestigious as  Morgan Stanley. 
 

As for foreign banks, I think we could land Deutsche Bank or Commerzbank fairly easily, or even Allianz. We got year round flights to Frankfurt and Munich. 

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2 hours ago, CLT704 said:

One company I don’t here much about is TIAA, they’re headquartered in NYC and their bank subsidiary in Jacksonville but have a presence in University. Seem like they’d be a good fit for a HQ relocation to Charlotte, they’re F500 but not as prestigious as  Morgan Stanley. 
 

As for foreign banks, I think we could land Deutsche Bank or Commerzbank fairly easily, or even Allianz. We got year round flights to Frankfurt and Munich. 

Deutsche Bank was a very strongly rumored to be planning to set up a big office in Charlotte back in 2007, not sure what killed it, may have been recession. Back then I bet 5-6 different people said to be ‘have you heard about the new Charlotte DB office being planned’?

Unfortunately DB has other things on their mind now and is certainly not going to be on an expansion footing any time soon.

Last week's Barrons was discussing a new wave of bank mergers (PNC purchasing Regions was discussed). As an aside in the article they mentioned rumors of a Goldman - Wells linkup which would feature substantial relocation out of NY and SF. It was just a paragraph and attributed to 'rumors on Wall Street.'

Edited by kermit
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34 minutes ago, CLT704 said:

One company I don’t here much about is TIAA, they’re headquartered in NYC and their bank subsidiary in Jacksonville but have a presence in University. Seem like they’d be a good fit for a HQ relocation to Charlotte, they’re F500 but not as prestigious as  Morgan Stanley. 
 

As for foreign banks, I think we could land Deutsche Bank or Commerzbank fairly easily, or even Allianz. We got year round flights to Frankfurt and Munich. 

Both TIAA and AXA have more employees in Charlotte than NYC already.  Talking to someone at TIAA a big reason to not move the HQ from NYC is that being regulated by New York state insurance commission is either an advantage, or so different than other state's regulators that it makes sense to keep HQ there even if most of the staff is elsewhere.

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2 hours ago, atlrvr said:

Both TIAA and AXA have more employees in Charlotte than NYC already.  Talking to someone at TIAA a big reason to not move the HQ from NYC is that being regulated by New York state insurance commission is either an advantage, or so different than other state's regulators that it makes sense to keep HQ there even if most of the staff is elsewhere.

I believe AIG is the same.  Expanding presence down here slowly, but many reasons to keep the "official" HQ elsewhere.

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What’s the prospect for luring Silicon Valley to Charlotte lock, stock, and barrel?  Silicon Valley is the future, and the city and state should focus on that.

I think that with Duke  and UNC two hours away, the prospects are pretty good for luring companies like Microsoft, Facebook, Amazon, etc. to move their HQs to SouthEnd.

I’d also like to see Charlotte lure the HQs of military contractors like Lockheed, Northrop, Boeing, etc.  NC is a logical choice given the state’s strong military presence.

Edited by SydneyCarton
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24 minutes ago, SydneyCarton said:

What’s the prospect for luring Silicon Valley to Charlotte lock, stock, and barrel?

I think that with Duke  and UNC two hours away, the prospects are pretty good.

it would be more realistic to lure Wall Street to N Tryon.  Neither is ever gonna happen.

Specialized knowledge clusters have nothing to do with the cost of space. They are 100% about culture and environment -- no one has figured out how to transplant either of these things. You can get a sense of this cultural gulf by checking out the difference in the amount of venture capital in SV vs NC (we have virtually none).

Edited by kermit

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2 hours ago, kermit said:

it would be more realistic to lure Wall Street to N Tryon.  Neither is ever gonna happen.

Specialized knowledge clusters have nothing to do with the cost of space. They are 100% about culture and environment -- no one has figured out how to transplant either of these things.

I think that within ten years, all banks will have left NY and hedge funds, venture capital firms, and PE firms too.    I'd like to see more than that though.  Perhaps, it can lure the film industry from LA.

 

 

 

 

 

Edited by SydneyCarton
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5 hours ago, Hushpuppy321 said:

Why is that?  Research universities, biotech?

I think that it’s good for NC that its two main metros have a particular niche and expertise in which they’re both among the top five or ten in the nation despite the fact that neither Charlotte, nor The Triangle, is nowhere near the top ten metros in terms of population or GDP.   These two cities really hit above their weight.

 

From the World Bank

0ACF6592-1ECC-46ED-8DE7-B322DFCD6C08.jpeg

Edited by SydneyCarton
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small building permit I saw in Biz Journal at a Bank of America owned building 401 N Tryon "Art Storage Consolidation" on the 2nd floor maybe for the bank's art.  It was for $270K so the art must be special.   Does anyone know of this project? 

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On 5/25/2020 at 10:46 AM, SydneyCarton said:

I think that it’s good for NC that its two main metros have a particular niche and expertise in which they’re both among the top five or ten in the nation despite the fact that neither Charlotte, nor The Triangle, is nowhere near the top ten metros in terms of population or GDP.   These two cities really hit above their weight.

 

From the World Bank

0ACF6592-1ECC-46ED-8DE7-B322DFCD6C08.jpeg

We are soooo close to passing Riverside.

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That list is really telling.  Charlotte and the Triangle are significant players in the fields of finance and pharma, respectively, despite having relatively small economies and populations.  I think that’s pretty impressive.

Edited by SydneyCarton
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23 minutes ago, Blue_Devil said:

I mean if you combine both the Triangle and Charlotte like they do with Miami Fort Lauderdale, We are 12th

Miami and Ft. L are in the same metro area.  They’re only about twenty-five miles apart, and that distance is all completely developed.   There’s no farmland, etc. between the two cities.  

Anyway, Charlotte and the Triangle  have considerable significance  in their fields despite being relatively small.

 

Edited by SydneyCarton

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31 minutes ago, SydneyCarton said:

Miami and Ft. L are in the same metro area.  They’re only about twenty-five miles apart, and that distance is all completely developed.   There’s no farmland, etc. between the two cities.  

Anyway, Charlotte and the Triangle  have considerable significance  in their fields despite being relatively small.

 

Yah, I lived there a while, Miami Fort Lauderdale and Palm beach while close are all pretty distinct.

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