Citigroup Inc. is adding 510 new jobs in Charlotte, further cementing the North Carolina city as a financial center for Wall Street banks.
The banking giant is investing $16.1 million in a new office space in Mecklenburg County to expand its local headcount in areas like personal banking, finance and marketing, according to a Tuesday statement from North Carolina Governor Josh Stein.
Although wages will vary based on position, the average salary for the new roles will be roughly $132,000, the release detailed.
“Charlotte stood out as a location where we had a unique opportunity to invest by establishing a formal presence,” Edward Skyler, Citi’s head of enterprise services and public affairs, said in the release. “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.”
Citi’s project is partially facilitated by a job-development grant approved by North Carolina’s economic investment committee. Over 10 years, the firm will be able to be reimbursed for as much as $8.9 million, according to the release.
Those funds are performance based, requiring Citigroup to meet certain job creation and investment targets.
Charlotte is one of the largest banking hubs in the U.S. and is home to the headquarters of Bank of America Corp. and Truist Financial Corp.
It also is a major employment base for Wells Fargo & Co. which became a bigger player in the city after its 2008 acquisition of Wachovia Corp.
Additionally, AssetMark announced on Tuesday it plans to invest $10 million to establish an East Coast hub in Charlotte’s central business district, bringing an additional 252 new jobs to the area.
(Credit: Jill Lang/Adobe Stock)
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