The Good News Report

[RaleighHeelsfan]

They are in ballantyne...uggg...any chance they would move everything uptown? One could only dream

[Silicon Dogwoods]

24 minutes ago, RaleighHeelsfan said:

I know you can only speculate but what would this mean in terms of job numbers??? New skyscraper even??? Huh huh huh??? 

I don't think it means much right now.

The BU isn't really even formed yet. They're doing this to shed the capital requirements of a systemic non-bank entity. So they're still deciding exactly what it should look like: standalone, sold to someone else, whatever.

I don't think it means a new tower. They're all eat up with mid-rise Ballantyne. 

[cltbwimob]

On 11/23/2015 at 3:46 PM, cltbwimob said:

It was just announced today that the parent of Capital Bank would be purchasing Charlotte-based CommunityOne.  For those who don't know Capital is the current incarnation of NAFH which was started by two former BoA bankers.  Those bankers are currently based in Charlotte although Capital's HQ is officially in Florida.

The CO had an article today about the merger which alluded to the uncertainty of the HQ location of the merged entity.  While it may be too early to speculate, I think Charlotte has a good chance of landing the HQ because the founders of the bank still live in the city, and they will finally have a significant presence in Charlotte.  I always suspected the reason their HQ location was elsewhere was because none of the banks they had purchased had a significant presence in Charlotte, but with this merger they certainly will have a much larger presence in the area.

If the HQ does land here, then Charlotte will have a new bank with about $10 billion in assets.

 

Recently Capital Bank moved its charter to NC, and now they are looking at moving the HQ to Charlotte.

http://www.charlotteobserver.com/news/business/banking/bank-watch-blog/article55690700.html

Assuming this move actually happens, and Metlife actually spins off its retail business, it seems as if Charlotte is starting to regain some of its footing in the financial services world.

[cltcane]

I think Capital Bank's logo would look rather nice at the top of 615 South College. 

[DMann]

Look for 615 to be the home for USBank.

[CLTProductions]

12 minutes ago, DMann said:

Look for 615 to be the home for USBank.

Is there any evidence behind this, or just wishful thinking?

[DMann]

They have been increasing their staff here, and their CEO has long indicated he wants a bigger presence on the East Coast.  Visibility of this location will be the best they could want.  Availability of this space is 2017, not far off.   Hard facts, no, but things seem moving in that direction.

[CLTProductions]

47 minutes ago, DMann said:

They have been increasing their staff here, and their CEO has long indicated he wants a bigger presence on the East Coast.  Visibility of this location will be the best they could want.  Availability of this space is 2017, not far off.   Hard facts, no, but things seem moving in that direction.

I would absolutely LOVE this. I agree and would love to see their logo on that building from 277
 

 

Edited January 21, 2016 by Jayvee

[CLT2014]

2 hours ago, DMann said:

They have been increasing their staff here, and their CEO has long indicated he wants a bigger presence on the East Coast.  Visibility of this location will be the best they could want.  Availability of this space is 2017, not far off.   Hard facts, no, but things seem moving in that direction.

Hasn't US Bank been expanding in Hearst Tower? They have set up the Capital Markets equipment in that building and inked an 81,000 sf deal with Parkway Properties in December. If they ran out of space in Hearst, wouldn't they want to be in a building closer to the rest of their team in Hearst rather than the opposite end of town? US Bank has expanded to Floor 35. Floor 36 and 37 are both available for lease.... seems natural for US Bank to take those floors if they need the extra space.

Edited January 21, 2016 by CLT2014

[Niner National]

3 hours ago, DMann said:

Look for 615 to be the home for USBank.

Home meaning headquarters or just their primary space for Charlotte?

[cltbwimob]

So now a "source close to the matter" has said that Capital Bank will likely be moving its HQ to Charlotte.

http://www.bizjournals.com/charlotte/blog/bank_notes/2016/01/sources-say-capital-bank-to-move-headquarters-to.html

[Silicon Dogwoods]

5 hours ago, Niner National said:

Home meaning headquarters or just their primary space for Charlotte?

The latter, I should think. They're pretty ensconced in Minneapolis.

But what do I know? 

[HopHead]

Yea, US Bank isn't leaving Minneapolis. I think DMann simply meant they may be moving their Charlotte operations to the 615 office tower. 

Regarding the Capital Bank move, that doesn't seem overly surprising that they would move their HQ here. Raleigh seemed temporary until they found a banking operation large enough to acquire in Charlotte to justify putting the HQ here. Several of the C-Level execs live here from their BofA days. 

[Crown]

On 1/21/2016 at 7:40 AM, DMann said:

Look for 615 to be the home for USBank.

From the news today, they have added 21K sf in 201 South Tryon Square : http://www.bizjournals.com/charlotte/blog/real_estate/2016/02/u-s-bank-expands-again-in-uptown-charlotte.html

[CLT2014]

6 minutes ago, Crown said:

From the news today, they have added 21K sf in 201 South Tryon Square : http://www.bizjournals.com/charlotte/blog/real_estate/2016/02/u-s-bank-expands-again-in-uptown-charlotte.html

Good news! Interesting choice since Floor 36 and 37 are available in Hearst above their other floors. It might be beneficial for Financial Crimes to be separate though.

[ScottCLT]

Seems strange to have a bank doing business with hundreds of employees in Charlotte even though there isn't a single branch for hundreds of miles. I'm not an economist, though, so maybe I'm wrong.

[Silicon Dogwoods]

9 hours ago, ScottCLT said:

Seems strange to have a bank doing business with hundreds of employees in Charlotte even though there isn't a single branch for hundreds of miles. I'm not an economist, though, so maybe I'm wrong.

Charlotte is home to lots of bankers and ex-bankers and until a recent wave of acquisitions, a number of mid-market investment banks were headquartered here in addition to Wells' big footprint and Bank of America. So there's a talent base in place. Add in Charlotte's many other attributes and their expansion here makes sense.

Edited February 6, 2016 by Silicon Dogwoods

[dcharlotte]

^ exactly. Much cheaper than finding good talent in NYC or Charlotte and trying to convince them to uproot their lives/families for a move. 

[Deleted.]

http://www.bizjournals.com/charlotte/news/2016/02/11/waste-company-to-bring-350-jobs-to-charlotte-for.html

[KJHburg]

MetLife is now up to 500,000 sq ft in Ballantyne after taking town a few more floors. Between the Gragg and Woodward twin buildings there are only 2 floors they do not lease. They keep quietly adding jobs here in Charlotte and this is before any decision is made if they are spun off or made independent.

[HopHead]

Piedmont Airlines, wholly owned subsidiary of American, will be adding 300 jobs in Charlotte this year: http://www.charlotteobserver.com/news/business/article62005427.html

Edited February 23, 2016 by HopHead

[Miesian Corners]

The Circle K uptown (Graham St) burned to the ground. Since no one was injured, I think it's safe to say this is good news.

[CLTProductions]

12 minutes ago, Miesian Corners said:

The Circle K uptown (Graham St) burned to the ground. Since no one was injured, I think it's safe to say this is good news.

Lol we talked about it in the uptown thread. But yeah its good news. It didn't burn to the ground however, and this is a VERY high grossing gas station. Likely that Circle K will just gut and rebuild.

[Deleted.]

http://www.charlotteobserver.com/news/business/banking/article63105392.html#emlnl=todays-headlines_newsletter 

I guess this could go in either the Good News Thread or the Bad News one. I put it here, seeing as MassMutual buying MetLife Retail, with the fact Babson Capital is here, maybe we will see MetLife Retail occupy the rest of 300 S. Tryon?

[CLTProductions]

4 hours ago, Piedmont767 said:

http://www.charlotteobserver.com/news/business/banking/article63105392.html#emlnl=todays-headlines_newsletter 

I guess this could go in either the Good News Thread or the Bad News one. I put it here, seeing as MassMutual buying MetLife Retail, with the fact Babson Capital is here, maybe we will see MetLife Retail occupy the rest of 300 S. Tryon?

Discussed in the bad news thread. It is probably not that likely they will do a full HQ move