Charlotte’s web welcomes you. The Bank of London will expand its US footprint by opening its US Global Platform & Services headquarters in North Carolina.
With offices already in New York, The Bank of London says it will create 350 new jobs by 2026 across numerous disciplines.
New positions at the US Global Platform and Services division will include software development, compliance and risk, technology operations, infrastructure engineering and business operations.
The busy bank, which launched as the sixth principal clearing bank of the UK in November 2021, reckons Mecklenburg and surrounding counties can expect an annual payroll impact of nearly $33 million (£27 million) when fully staffed.
It has already taken an 11-year lease on a 40,000 square foot floor of One Independence Center at the “energetic intersection” of Trade and Tryon in the heart of Charlotte’s Central Business District.
The bank points out that Charlotte is the second-largest banking city in the US after New York, where The Bank of London has its US headquarters.
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Vi Lyles, Mayor of Charlotte, states: “With The Bank of London building its technology hub in Charlotte, we continue to demonstrate that Charlotte is the epicentre of where finance and technology converge.”
Anthony Watson, Group Chief Executive and Founder of The Bank of London, adds: “Without doubt Charlotte has some of the best bank technology and business talent that the US – 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).”
As noted above, The Bank of London powered up last year, and was only the second clearing bank in 250 years. (ClearBank was the other, and launched in 2017.) With a $1.1 billion (£910 million) valuation, The Bank of London often mentions it is the first pre-revenue bank in history to attain ‘unicorn’ status upon debut.
Its headquarters are in London (obviously). In June the bank revealed it will open a Centre of Excellence in Belfast, creating 232 new jobs by 2026.
The Bank of London said at the time that it already welcomed 34 new colleagues – a team made up of payments staff, software engineers, operations and other business functions.
This fintech development is expected to generate around £20 million worth of annual salaries for the local economy in Northern Ireland when all the roles are in place.