BankTown Banking & Finance News

[J-Rob]

58 minutes ago, norm21499 said:

Doesn't Wells still have a ton of space at their building in the university area?

I no longer work there, but when I did the university facilities were known for being uncomfortable packed like sardines.

[KJHburg]

Wells Customer Information Center on Harris Blvd. is over 2 million sq ft and they occupy all that and some space at Innovation Park and an entire  4 story building at 8740 Research Drive.  As far as I know they have not given up any space in the University area.  

In other bank town news I find this very interesting.   Someone mentioned this before about SVB but here it is:   Silicon Valley Bank has 76 job openings in Charlotte for their non existent (as of yet) office.    Outside of CA, Salt Lake and  NYC this is their largest number of openings.   Hmmmm  something is up here.  Do a search yourself.  

Silicon Valley Bank Careers | Silicon Valley Bank (svb.com)

Careers (myworkdayjobs.com)   search here

 

[SydneyCarton]

18 hours ago, KJHburg said:

Wells Customer Information Center on Harris Blvd. is over 2 million sq ft and they occupy all that and some space at Innovation Park and an entire  4 story building at 8740 Research Drive.  As far as I know they have not given up any space in the University area.  

In other bank town news I find this very interesting.   Someone mentioned this before about SVB but here it is:   Silicon Valley Bank has 76 job openings in Charlotte for their non existent (as of yet) office.    Outside of CA, Salt Lake and  NYC this is their largest number of openings.   Hmmmm  something is up here.  Do a search yourself.  

Silicon Valley Bank Careers | Silicon Valley Bank (svb.com)

Careers (myworkdayjobs.com)   search here

 

I could see Wells wanting a trophy tower in Charlotte, particularly in South End, which seems to attract young workers.

[Desert Power]

On 1/7/2022 at 9:07 AM, SydneyCarton said:

SF is gorgeous.  I love it.

I'd like to see one of those huge towers in the QC.

One of the biggest drawbacks of the continued banking boom in Charlotte is less opportunities to visit SF on the company dime.

11 minutes ago, SydneyCarton said:

I could see Wells wanting a trophy tower in Charlotte, particularly in South End, which seems to attract young workers.

The old WFC culture wouldn't do that, maybe the new leadership would. Still, a rebranded DEC would be a fine headquarters.

[Norm2]

I hate to be the Debbie Downer, but I really don't see Wells Fargo moving there Headquarters here, as much as that would be good for bragging rights.

[Hornets]

49 minutes ago, norm21499 said:

I hate to be the Debbie Downer, but I really don't see Wells Fargo moving there Headquarters here, as much as that would be good for bragging rights.

As much as I would like for you to be wrong, I don't either.  Either TX, or NY.... I'd rather it stay in SF, or move to NY, rather to TX.  For me that would be a slap in the face.

[atlrvr]

Why would WF possibly consider Texas as a HQ?

[KJHburg]

If Wells moves their HQ out of San Fran it is either to Charlotte or NYC not Las Colinas outside of Dallas.   Most of the assets and business of Wells are now east of the Mississippi obviously this was not always the case but when they bought Wachovia it became much bigger east.  From that article it sounds like the number of jobs keeps shrinking in San Fran anyway.  

I can't get this image of the exec suite out of my head.... the shag carpeting and paneling. (not the actual HQ I don't think)

[JRCLT]

I hate to be the Debbie Downer, but I really don't see Wells Fargo moving there Headquarters here, as much as that would be good for bragging rights.

Currently, it isn't going anywhere anyways.

[JRNYP2C]

On 1/7/2022 at 4:45 PM, J-Rob said:

I no longer work there, but when I did the university facilities were known for being uncomfortable packed like sardines.

I temporarily worked at CIC for one day about 3 years ago, (had errands to run up there and it was available space), and it was like I stepped back in time to 1994.  I had been there for other work reasons a few times between 2002 and 2018, and not ventured out of the couple of populated areas.  But WOW!  some of the space has not been touched probably in 20 years and is old, dusty and woefully out of date.  IMHO, one would think that having owned space, WF would rehab what they have instead of building new.  However, those in the construction know-how here can explain better than I can the pros and cons about rehab versus new construction.  They are going to keep anything new out of Uptown - trust me.  The goal has been, for several years, to move all back office functions to the 'burbs to save money.  That is a majority of your workforce here.  So a shiny new 40-50 floor tower is more than likely never going to happen - post-Covid conditions notwithstanding.  CIC is still usable and in an area of the city that has enough amenities.  It just needs some love - like the Charlie Brown Christmas tree!

[davidclt]

On 1/17/2022 at 9:45 AM, JRNYP2C said:

I temporarily worked at CIC for one day about 3 years ago, (had errands to run up there and it was available space), and it was like I stepped back in time to 1994.  I had been there for other work reasons a few times between 2002 and 2018, and not ventured out of the couple of populated areas.  But WOW!  some of the space has not been touched probably in 20 years and is old, dusty and woefully out of date. 

BAC Corporate Center is a bit like an Interior Design Archaeological dig. They have been updating floors but riding the elevator you could go from the 1990s (Charlotte's interpretation of what passed for refined gentry - dark woods, green marble, tan) to the early 2000s (faux stone and polished concrete) to the 20teens (sterile, bold colors) to 2020 (cooler colors, warmer finishes - "Modern Workspace" is the brand they're using for the upfit IIRC). High Schools no longer have/use lockers but office workers could/do.

I don't think Wells Fargo focuses much on interior finishes. Even their newer offices (I had the misfortune to work both in Ft. Mill and Ballantyne) don't focus any money on the experience and I'm confident if they occupy those spaces in 20 years, they won't be upgraded meaningfully at all.

[InTheYear2000]

20 hours ago, davidclt said:

BAC Corporate Center is a bit like an Interior Design Archaeological dig. They have been updating floors but riding the elevator you could go from the 1990s (Charlotte's interpretation of what passed for refined gentry - dark woods, green marble, tan) to the early 2000s (faux stone and polished concrete) to the 20teens (sterile, bold colors) to 2020 (cooler colors, warmer finishes - "Modern Workspace" is the brand they're using for the upfit IIRC). High Schools no longer have/use lockers but office workers could/do.

I don't think Wells Fargo focuses much on interior finishes. Even their newer offices (I had the misfortune to work both in Ft. Mill and Ballantyne) don't focus any money on the experience and I'm confident if they occupy those spaces in 20 years, they won't be upgraded meaningfully at all.

Great description, they could make a fortune renting it out to film production for period accurate depictions of office settings spanning late 90's to current. The trade floor on Hearst was particularly techno-futuristic with early Plasma TVs embedded in the walls and 10" TVs at every work station. Really would like to get a look at what Truist did with it. I see that art piece in the window and wonder what else they did with the space.  

[JRNYP2C]

On 1/19/2022 at 12:44 PM, davidclt said:

BAC Corporate Center is a bit like an Interior Design Archaeological dig. They have been updating floors but riding the elevator you could go from the 1990s (Charlotte's interpretation of what passed for refined gentry - dark woods, green marble, tan) to the early 2000s (faux stone and polished concrete) to the 20teens (sterile, bold colors) to 2020 (cooler colors, warmer finishes - "Modern Workspace" is the brand they're using for the upfit IIRC). High Schools no longer have/use lockers but office workers could/do.

I don't think Wells Fargo focuses much on interior finishes. Even their newer offices (I had the misfortune to work both in Ft. Mill and Ballantyne) don't focus any money on the experience and I'm confident if they occupy those spaces in 20 years, they won't be upgraded meaningfully at all.

I work in Ballantyne and you are correct.  That building is cheap top to bottom and has no lasting power.  Sterile and cold.

[KJHburg]

Speaking of Wells Fargo according to reports in San Fran Business Times.  this is good for uptown to have people back in the offices at least some of them on some days. 

""Wells Fargo told employees Wednesday that most employees will return to work under a “hybrid flexible model” on March 14, according to a company memo from Scott Powell, the bank’s chief operating officer.  Powell also told eligible employees that they can voluntarily return to the office earlier, starting Wednesday. He said almost 100,000 Wells Fargo (NYSE: WFC) employees never left the workplace or have already returned to the office voluntarily.  “We strongly believe in the benefits of seeing our colleagues on a regular basis,” Powell told employees. “This is a significant moment for us as we implement our new hybrid flexible work model for certain roles, which emphasizes spending time together in the office and introduces hybrid work options for employees in most jobs. As a result, you have greater flexibility.”  Wells, with about  250,000 employees, had delayed its return to office plans indefinitely in December.""

 

[davidclt]

15 hours ago, JRNYP2C said:

I work in Ballantyne and you are correct.  That building is cheap top to bottom and has no lasting power.  Sterile and cold.

It feels like everything they could have done poorly in Ballantyne, they did twice as poorly as they could. It almost feels punitive. Poor elevator queuing algorithms with a complete choke point in the elevator lobby, a miserable cafe with no good choices without driving somewhere, floorplans on all floors that are chopped up with no flow, meeting spaces that are barely usable and furnished with 80s and 90s era damaged furniture in all of them. Fort Mill is almost as bad. It is eye-opening that even BACs most ages spaces may have aged but they don't appear tired.

[Blue_Devil]

15 hours ago, KJHburg said:

Speaking of Wells Fargo according to reports in San Fran Business Times.  this is good for uptown to have people back in the offices at least some of them on some days. 

""Wells Fargo told employees Wednesday that most employees will return to work under a “hybrid flexible model” on March 14, according to a company memo from Scott Powell, the bank’s chief operating officer.  Powell also told eligible employees that they can voluntarily return to the office earlier, starting Wednesday. He said almost 100,000 Wells Fargo (NYSE: WFC) employees never left the workplace or have already returned to the office voluntarily.  “We strongly believe in the benefits of seeing our colleagues on a regular basis,” Powell told employees. “This is a significant moment for us as we implement our new hybrid flexible work model for certain roles, which emphasizes spending time together in the office and introduces hybrid work options for employees in most jobs. As a result, you have greater flexibility.”  Wells, with about  250,000 employees, had delayed its return to office plans indefinitely in December.""

 

But why... In all seriousness, it will be good for the blueline and Uptown. Wells has about 28000 in Charlotte, and probably like 70% are in Uptown. 

[KJHburg]

Interesting that Silicon Valley Bank which has no local office (yet) has 85 jobs postings here. 

some are cross posted in other cities but many in risk, tech, compliance etc.  Very interesting.  

https://svb.wd5.myworkdayjobs.com/svbank?locations=4aeec87d52df01253042dd021600971b

Varo Money Bank based in San Fran has 18 various job positions here in Charlotte.

https://www.varomoney.com/careers/#career-openings

Bank of Montreal Harris Bank has 2 job openings here which Harris is the bank they bought in Chicago.  

Neither Varo Bank or Silicon Valley Bank have announced a location for their Charlotte staff yet.  

Oh yeah US Bank which has a great career website allowing you to search by map of jobs has 122 jobs open in Charlotte many in tech, risk, compliance.    They need a new office location since they are primarily in Truist Tower and rest in 201 South Tryon.  Can you say they could anchor a new building know of any planned maybe right outside of uptown??

[KJHburg]

Charlotte based Truist making big real estate move in Atlanta.

From ATL Biz Chronicle

""A new tower will soon rise inside of The Battery Atlanta for a tenant that feels a little too obvious: Truist Securities, the namesake of the development’s baseball stadium.  Truist Securities, the combined entity of the former SunTrust Robinson Humphrey and BB&T Capital Markets divisions, is moving its longtime headquarters in Buckhead's Atlanta Financial Center to a new tower immediately behind Truist Park, according to a company announcement.  The securities division will bring 1,000 jobs to Cobb County when the building delivers in 2024. Some of those jobs are relocated from the Atlanta Financial Center. It is unclear whether new jobs will also be added.  The move almost doubles Truist's existing footprint at the Atlanta Financial Center, which is roughly 150,000 square feet, according to data from real estate analytics company CoStar Group. The company signed a 15-year lease on the new Cobb County building. Truist Securities’ lease expires at the Buckhead tower in 2025. ""

[CLTNC98]

On 2/26/2022 at 8:45 PM, KJHburg said:

Interesting that Silicon Valley Bank which has no local office (yet) has 85 jobs postings here. 

some are cross posted in other cities but many in risk, tech, compliance etc.  Very interesting.  

https://svb.wd5.myworkdayjobs.com/svbank?locations=4aeec87d52df01253042dd021600971b

Varo Money Bank based in San Fran has 18 various job positions here in Charlotte.

https://www.varomoney.com/careers/#career-openings

Bank of Montreal Harris Bank has 2 job openings here which Harris is the bank they bought in Chicago.  

Neither Varo Bank or Silicon Valley Bank have announced a location for their Charlotte staff yet.  

Oh yeah US Bank which has a great career website allowing you to search by map of jobs has 122 jobs open in Charlotte many in tech, risk, compliance.    They need a new office location since they are primarily in Truist Tower and rest in 201 South Tryon.  Can you say they could anchor a new building know of any planned maybe right outside of uptown??

SVB Taking 1.5 floors in The Line. Looking to hire 100+ employees for support functions as you mentioned.  Will be joined by small investment banking team currently in Carillon. 

[KJHburg]

10 minutes ago, CLTNC98 said:

SVB Taking 1.5 floors in The Line. Looking to hire 100+ employees for support functions as you mentioned.  Will be joined by small investment banking team currently in Carillon. 

great news and that building is almost filled up.  another bank for Bank Town and one from California to boot. 

[SydneyCarton]

Incoming Fifth Third CEO calls NC, SC expansions ‘most important investment’ in Southeast

UPDATED APRIL 29, 2022 8:16 AM

 

I can't post the whole article.  It basically talks about adding branches.  Hopefully, they'll also add a 500k sf office also, though that's not even discussed in the article.  Better yet, they should move the HQ from Cincy to Charlotte, both of which are "Queen Cities."

Edited April 29, 2022 by SydneyCarton

[KJHburg]

Silicon Valley Bank has 84 openings for their non existent Charlotte office.   (hello The Line?)  they break remote jobs out and a quick look at where they have jobs open and numbers of them 

Only San Fran, Santa Clara  and NYC have more jobs opening in an office than the Charlotte office.    when will this announce?   Reminds me of Varo Bank  which by the way has 19 job openings here in their non existent Charlotte office.    (hello Camp North End?)    I wish some leases would get signed and announced.  

https://svb.wd5.myworkdayjobs.com/svbank

[Blue_Devil]

I heard a rumor about a bank that rhymes with Cayman Jacks… 

[Hornets]

40 minutes ago, Blue_Devil said:

I heard a rumor about a bank that rhymes with Cayman Jacks… 

Goldman Sachs  : )

[atlrvr]

Go on...