Two Financial Firms Select Charlotte For New Projects
Yesterday, two different financial firms announced new projects in Charlotte. AssetMark, a wealth management platform for financial advisors, plans to create 252 jobs and invest $10 million into Mecklenburg County. Citigroup announced plans expand its operations in Mecklenburg County, creating 510 additional jobs with a $16.1 million investment.
The Citigroup project is expected to grow the state’s economy by $2.7 billion over ten years, and contribute $65 million in annual payroll impact. The AssetMark project is expected to contribute $1.2 billion over ten years, and contribute over $27 million annually in payroll impact.
What They Are Saying:
“We are excited about our partnership with Charlotte and the State of North Carolina, which will allow us to establish our East Coast Hub,” said Lou Maiuri, Chairman and Group CEO for AssetMark. “The committed investment from North Carolina allows us to grow our cross-functional presence in Charlotte so that we can better serve a significant portion of our clients. Exceptional service is at the center of everything we do at AssetMark. This partnership means we can continue to enhance our support for our advisors and their clients, while allowing us to tap into the exceptional talent pool available in Charlotte.”
“As we reviewed our real estate footprint in the United States, Charlotte stood out as a location where we had a unique opportunity to invest by establishing a formal presence,” said Edward Skyler, Citi’s Head of Enterprise Services & Public Affairs. “This will create a better working environment for our existing colleagues as well as allow us to further tap into the deep pool of talent in this market. We appreciate the work Governor Stein and other public officials have done to make this area so attractive to businesses, and we look forward to playing a larger role in Charlotte’s growth over the coming years.”
"Citi’s decision makes clear once again that Charlotte is one of the nation’s top financial centers,” said Governor Josh Stein. “AssetMark’s decision to grow its business in Charlotte proves once again that business leaders recognize North Carolina as one of the country’s best places to do business.”
“We welcome these new jobs for Charlotte, Mecklenburg County, and for our state as a whole,” said Representative Mary Belk. “Everyone in our community will offer AssetMark a warm welcome and we will connect this company with the many resources in our region that will power their company’s growth here in North Carolina.”
“I applaud the many local, regional, and state economic development organizations that worked hard to bring Citi’s new tech hub to our community,” said Representative Laura Budd. “We look forward to seeing this company grow its presence in Charlotte, Mecklenburg County, and North Carolina.”
