September 24, 2009

U.S. Bancorp to open downtown
Charlotte trading floor, expand operations

Minneapolis-based U.S. Bancorp has leased an additional 10,000 sq. ft. in downtown Charlotte’s Hearst Tower and will build a bond trading floor for its new high-grade, fixed income business.

The most recent expansion follows announcement in May of the creation of Charlotte-based fixed income and national corporate banking units. U.S. Bancorp has since hired 30 individuals for these divisions and expects to hire another 50 or 60 by the end of 2010. The bank’s current employment in Charlotte stands now at 120, a total that includes specialists in the trust division that has operated here since 2005.

U.S. Bancorp was represented in lease negotiations by Steve Garrett, Tripp Guin, Tom O’Brien and Mark Decherd of CB Richard Ellis Charlotte. Adam Colvin of Lincoln Harris assisted building owner Bank of America with lease approval.

U.S. Bancorp’s expansion follows the Charlotte Chamber’s volunteer-driven initiative in late 2008 to identify financial service sector companies potentially interested in setting up operations in Charlotte. Early this year, Chamber Chair Tim Belk played an instrumental role in establishing contact with top U.S. Bancorp executives and initiating dialogue that resulted in specific follow-up opportunities.  The Chamber and Charlotte Center City Partners have since monitored the bank’s expansion efforts and provided back-up assistance.

For more information about U.S. Bancorp’s Charlotte expansion, please contact one of the following:

Charlotte Chamber | 330 South Tryon Street | Charlotte, NC 28202 | 704.378.1300 | www.charlottechamber.com