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I recall someone saying that a lot of HQ jobs are actually in Charleston, based on the SCBT/First Financial merger a few years ago.
I think they're being very slow/deliberate with consolidation. Remember that they bought Southeastern Bank out of Augusta last year. It doesn't really make sense to force everyone to Columbia when you're still integrating systems and people. I suspect they will slowly build out their HQ as they fan out farther from SC.
I recall someone saying that a lot of HQ jobs are actually in Charleston, based on the SCBT/First Financial merger a few years ago.
SouthState has been slowing moving a lot of its back end stuff to Columbia. It makes since from a financial and geographical perspective. South State bank is still very small compared with SunTrust, Regions and BB&T, as far as regional banks go. I am not sure what their end game is, but I think with their relatively stable deposit and loan business, they might be looking to eventually get into processing their own credit cards. That would be a huge boon for Columbia, and would provide a range of jobs from IT to call center.
I think they're being very slow/deliberate with consolidation. Remember that they bought Southeastern Bank out of Augusta last year. It doesn't really make sense to force everyone to Columbia when you're still integrating systems and people. I suspect they will slowly build out their HQ as they fan out farther from SC.
Quote:
Originally Posted by Jordo06
SouthState has been slowing moving a lot of its back end stuff to Columbia. It makes since from a financial and geographical perspective. South State bank is still very small compared with SunTrust, Regions and BB&T, as far as regional banks go. I am not sure what their end game is, but I think with their relatively stable deposit and loan business, they might be looking to eventually get into processing their own credit cards. That would be a huge boon for Columbia, and would provide a range of jobs from IT to call center.
This is good to hear! At first it sounded like Columbia would just be a HQ in name only and most of the jobs would be in Charleston since it has more of a 'desirability' factor, almost like with BOA headquartered in Charlotte but a lot of critical functions being in NYC and Boston. I do hope Columbia will be a full-fledged headquarters for the bank in every sense of the word.
Port... Huge asset for Columbia though as well, since it is at a major interstates crossroads, a UPS air hub and low land prices. Similar reason for the Starbucks roasting plant and automotive supply factories locating in the Columbia area. I know we need to support the military base and state government, but the growth of jobs is going to come in the areas of insurance back-end software and operations and advanced manufacturing and logistics.
Port... Huge asset for Columbia though as well, since it is at a major interstates crossroads, a UPS air hub and low land prices. Similar reason for the Starbucks roasting plant and automotive supply factories locating in the Columbia area. I know we need to support the military base and state government, but the growth of jobs is going to come in the areas of insurance back-end software and operations and advanced manufacturing and logistics.
I certainly understand the importance of the port, as that was mentioned in the article, but I would've thought mention would have been made of Columbia as well given its close proximity to Newberry. After all, it is part of the Columbia CSA. Either way, it would be great for this to pan out.
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