US EditionWells Fargo to Move Wealth Management Headquarters to West Palm Beach
Wells Fargo is relocating about 100 employees to strengthen leadership and client engagement in a growing market, with wealth management generating $16 billion in annual revenue.
- Yesterday, Wells Fargo Wealth and Investment Management confirmed it is moving its wealth-management headquarters to downtown West Palm Beach, leasing 50,000 square feet at the One Flagler office tower owned by Stephen Ross.
- WIM said the relocation advances its strategic commitment to serving high and ultra-high-net-worth clients after generating $16 billion in revenue last year and 20% of Wells Fargo's total revenue.
- About 100 employees, mostly senior executives, will relocate by year-end with the office on track to open in August, while numerous leaders remain in New York, St. Louis and Charlotte, North Carolina.
- Seen another way, Related Ross Executive Vice President Jordan Rathlev said, 'Wells Fargo is making a bold move by bringing senior leadership and a major part of its wealth management business to One Flagler in West Palm Beach,' underscoring increasing confidence in the Florida city as a financial hub.
- Palm Beach County, Florida has attracted more than 140 companies, created or retained more than 13,110 direct jobs and more than $1.12 billion in capital investments, and Stephen Ross, CEO and chairman , recently said he expects more recognizable names to expand there.
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The first big bank to move its headquarters to FL is Wells Fargo
South Florida Aerial Perspective — Courtesy: Shutterstock — Image by: Cascade Creatives Another significant financial behemoth is setting up shop in Florida. The fact that Wells Fargo revealed to Fox News Digital that it is relocating its wealth management headquarters to West Palm Beach highlights the increasing flow of capital and corporate power from established financial centers to low-tax, business-friendly areas. With this move, Wells Farg…
Wells Fargo shifts wealth management headquarters to Florida
Wells Fargo will relocate its wealth management headquarters to West Palm Beach, leasing 50,000 square feet at One Flagler. About 100 senior executives will move by year-end, with the office opening in August. The move follows other major banks expanding in South Florida for tax and talent advantages.
Wells Fargo moves wealth-management unit to Palm Beach, joining Florida rush
Wells Fargo is reportedly moving its wealth-management headquarters to West Palm Beach – making it the first major bank to relocate such a key part of its operations to South Florida amid the exodus of financial firms and wealthy individuals to the region.
Wells Fargo becomes first major bank to relocate wealth operations headquarters to Florida
Another major financial giant is planting its flag in Florida.Wells Fargo confirmed to Fox News Digital that it is moving its wealth management headquarters to West Palm Beach, underscoring a growing exodus of money and corporate influence from traditional financial hubs to low-tax, business-friendly states.The relocation makes Wells Fargo the first major U.S. bank to base its wealth-management operations in the Sunshine State."Wells Fargo Wealt…
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