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Deutsche Bank Plans $10 Million Expansion In Jacksonville, Florida

Area Development Online News Desk (06/26/2013)
Deutsche Bank will expand its footprint in Jacksonville, Florida, with plans to add more than $10 million in capital and create 300 jobs during the next three years.

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. “On behalf of our 1,100 employees in Jacksonville, I am pleased to announce this further expansion, Michael Fleming, Managing Director of Deutsche Bank Jacksonville said. “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.”

Gov. Rick 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.”

“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.”

“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.”

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