SMBC to Establish Second U.S. Headquarters in Charlotte
PHOTO: CITY OF CHARLOTTE
CHARLOTTE, NC—Governor Josh Stein announced that SMBC Group, one of Japan’s largest financial institutions, will establish its second U.S. headquarters in Charlotte to support its operations, creating 2,000 jobs over the course of six years. The company will invest $50.5 million in Mecklenburg County.. It is one of the largest economic development announcements in Charlotte history and is expected to generate a total annual impact of $1.17 million.
“We’re grateful to SMBC for choosing Charlotte for its second U.S. headquarters,” said Charlotte Mayor Vi Lyles. “This investment reinforces the city’s reputation as a destination for forward-thinking organizations and world-class talent.”
The operations in Charlotte will include roles in executive leadership, middle management, associate and analyst roles, with an average salary of $165,686. This is in addition to 160 full-time SMBC employees who are currently employed at a regional office in Charlotte. SMBC plans to hire employees locally, in addition to relocations from other offices.
“Mecklenburg County continues to prove its mettle as a global financial center,” said Mecklenburg Board of County Commissioners Chair Mark Jerrell. “SMBC is one of the world’s top-tier banks. Its decision to locate its second U.S. headquarters here demonstrates our community’s ability to deliver homegrown and new talent, a business-friendly ecosystem that supports innovation, and a high quality of life.”
Headquartered in Tokyo and with a 400-year history, SMBC Group offers a range of financial services, including banking, leasing, securities, credit cards and consumer finance. The bank has more than 150 offices and 86,000 employees worldwide in nearly 40 countries. Its U.S.-based headquarters for the Americas is located in New York City.
“As SMBC continues to grow substantially in the United States, Charlotte is a standout location for us to invest in North Carolina for the long term in a major expansion that will establish our roots in the community,” said Hirofumi Otsuka, CEO for SMBC Americas, at the press conference. “A major financial services hub, Charlotte has a deep pool of talent that we will tap into and help build out as we position our bank for long-term success while contributing to the broader local economy. We appreciate the support of Governor Stein and other public leaders as we set out to create 2,000 jobs over the next six years."
The City of Charlotte and Mecklenburg County partnered with the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, the North Carolina General Assembly, the North Carolina Community College System, the Charlotte Regional Business Alliance, Charlotte Center City Partners and UNC Charlotte on the project.