The Bank of London is planning to increase its presence in the US by establishing a new US Global Platform & Services headquarters in Charlotte, North Carolina.
The move will create 350 new jobs by 2026 and will be alongside its offices in New York and Belfast.
It is the first worldwide clearing, agency, and transaction bank to be specifically designed for that purpose.
There will be new jobs in software development, compliance and risk, technology operations, infrastructure engineering, and business operations at the US Global Platform and Services division.
Mecklenburg and the surrounding counties can expect an annual payroll impact of nearly $33 million when fully staffed.
Anthony Watson, Group Chief Executive & Founder of The Bank of London said: “Without doubt, Charlotte has some of the best bank technology and business talent that the U.S. — and the world — has to offer. I should know,”
“I spent some of the happiest years of my working life in Charlotte when employed by Wachovia Bank (now Wells Fargo).
“I’m beyond delighted to once again work in the Queen City as we transform banking for the betterment of all.”
The center is in the middle of Charlotte’s Central Business District and contains a 40,000-square-foot floor for which The Bank of London has secured an 11-year lease.
Jim Ditmore, Co-President & Group Operating Officer of The Bank of London added: “The Bank of London has truly game-changing and patented technology that will power the borderless economy of the future,”
“We will be continuing to invest heavily in our technology offering for clients and we’ve chosen Charlotte as a key location to drive our agenda forward, enabled by Charlotte’s unique combination of banking talent, technologists, and financial business leaders.”
The US Global Platform and Services section of the bank has opened in Charlotte, providing access to a large and diverse new talent pool.
Charlotte is the second largest banking city in the U.S. after New York, where The Bank of London has its U.S. headquarters.
Charlotte’s thriving banking industry, urban lifestyles, and amenities that draw professionals from all across the United States all attracted the Bank of London.
Vi Lyles, Mayor of Charlotte said: “With The Bank of London building its technology hub in Charlotte, we continue to demonstrate that Charlotte is the epicenter of where finance and technology converge,”
Lyles said: “This announcement further builds on our strategic international partnerships, and I look forward to seeing The Bank of London’s growth in our city.”