October 21, 2020
Monday, June 24, 2013
World banking leader will create 300 jobs, invest more than $10 million in capital
JACKSONVILLE, FL (June 24, 2013) – Today, Governor Rick Scott announced that Deutsche Bank, one of the world’s largest banks, is expanding its footprint in Jacksonville. The bank plans to add more than $10 million in capital and 300 jobs into Florida over the next three years.
Governor Scott said, “We are thrilled to be here today announcing another expansion at Deutsche Bank’s Jacksonville campus. Deutsche Bank has become an important partner to the local community and we thank them for continuing to create jobs for Florida families. This expansion will create 300 new jobs for Florida families and demonstrates that our efforts to improve Florida’s economy and create jobs are working.”
This expansion is the second in two years at Deutsche Bank’s Jacksonville campus and comes just five years after the company’s initial venture in the region. Since 2008, the banking leader has created more than 1,000 high quality jobs. The strong success of those projects allowed the bank to make this futher expansion of 300 jobs and additional capital investments in the state.
“On behalf of our 1,100 employees in Jacksonville, I am pleased to announce this further expansion,” said Michael Fleming, Managing Director of Deutsche Bank Jacksonville. “While we started out in 2008 with under 100 people supporting one business, we now have employees from all the businesses in the U.S. and have been growing our front-office capabilities at this site. The tremendous support from the state of Florida and the City of Jacksonville has played a large part in our decision to increase our footprint at this location.”
Most of the nation’s leading financial and professional services companies have established large operations in Florida to take advantage of its global connectivity, experienced workforce and favorable business climate. Nearly 90 percent of Florida’s gross economic output is generated in the service sector. Florida firms in fields such as banking, accounting, architecture, consulting, engineering, legal services and others represent the state’s 4th largest industry, with 12.5 percent of the state GDP.
“From Pensacola to Jacksonville to the southern tip of the state, Florida’s standing as a world leader in the financial and professional services industry continues to rise,” said Secretary of Commerce and president & CEO of Enterprise Florida Gray Swoope. “When Deutsche Bank chooses to move to and expand in Florida, it shows the confidence they have in our workforce and that we have the resources needed for the world’s largest banks to succeed and grow.”
Northeast Florida is one of the fastest-growing regions in the U.S. The area’s growth is made possible by a large and talented workforce, and by communities and government leaders who are dedicated to economic development.
“Deutsche Bank has consistently shown an incredible return on investment for Jacksonville,” said Mayor Alvin Brown. “More than jobs, these are career-building opportunities that speak to our economic momentum and quality of life. Expanding investment banking in Jacksonville represents a powerful step toward economic recovery and I applaud city and state leaders along with Deutsche Bank for great teamwork.”
“The jobs Deutsche Bank is creating in this next phase of expansion are exactly the types of jobs that we have been targeting for the region,” said Jerry Mallot, president of JAXUSA Partnership. “Many of these jobs are sophisticated finance positions that have traditionally only existed on Wall Street. Deutsche Bank is one of many financial services companies that have found a highly qualified workforce in Jacksonville with operating costs that are much lower than the Northeast.”