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there is a chance they could move downtown, seeing as that seems to be prefered location for office use, as companies slowly gravitate from the airport area.
As of 9:59pm, bizjournals still has it as breaking news.
QUOTE=Charlotte485;55251801]Atlanta & Winston will maintain community banking centers? Aka bank branches?
Interesting they would choose GSO over Winston.[/quote]
And as 485 said, i'm curious as to why suntrust completely skipped Winston Salem. As this could have softened the blow of losing BB&T to Charlotte.
Seeing as how Winstom Salem was the home of BB&T.
Let Charlotte have the banks. I think Greensboro can cut its own niche in becoming a powerhouse in the insurance sector. This is how Greensboro will land white collar jobs. Who wants to bet Roy Carroll will be trying to lure this new mortgage insurance spin off company to his planned office tower?
As for choosing Greensboro as the new hub for the combined company’s mortgage operations, SunTrust said it was seen as a central site between the home bases of two banks’ respective mortgage arms.
“Greensboro is centrally situated relative to our companies’ respective primary operating and servicing hubs in Richmond, VA, and Greenville, SC, and close to the proposed combined company’s headquarters in Charlotte,” SunTrust said in its email.
The article is saying point blank the combined banks mortgage insurance company will be based here. Keep in mind the current SunTrust Mortgage insurance headquarters in Richmond leases about 400,000 square feet of office space. A bigger mortgage insurance company would likely need as much or more space. Look at Lincoln Financial in downtown Greensboro, another insurance branch of a major bank. This obviously will be a transitional move though.
Looks like there is a silver lining in the Triad's loss of BB&T.
FWIW, where are you seeing anything about mortgage insurance (whether a new company or anything about insurance)? This looks to be more along the lines of the operations of the mortgage sector of the bank.
As of 9:59pm, bizjournals still has it as breaking news.
And as 485 said, i'm curious as to why suntrust completely skipped Winston Salem. As this could have softened the blow of losing BB&T to Charlotte.
Seeing as how Winstom Salem was the home of BB&T.
I'm not saying that the news isn't exciting. In fact, this (mortgage operations between the two companies ending up in Greensboro) is great news for the area! It's just that those jobs will be located by the airport, likely for the foreseeable future.
I'm not saying that the news isn't exciting. In fact, this (mortgage operations between the two companies ending up in Greensboro) is great news for the area! It's just that those jobs will be located by the airport, likely for the foreseeable future.
airport or not, this is excelent news, puts greensboro in the spot light of other companies that might be looking for a new buisness climate. And i wouldn't mind if it is by the airport to be honest,( i actually live near the airport off of the loop) aslong as it's in North Carolina and in the triad that's what counts.
But with how quickly downtown is growing, this can also be a catylast for a new development situated near Arch Mortage Group and LFG. But only time will tell.
Charlotte has the banks, Greensboro has the insurance branches and distribution. Winston has biotech and medical, Highpoint has furniture, raleigh durham have advanced technology in RTP and medical.
FWIW, where are you seeing anything about mortgage insurance (whether a new company or anything about insurance)? This looks to be more along the lines of the operations of the mortgage sector of the bank.
The article point blank says Greensboro will be the new mortgage insurance hub for the combined bank. SunTrust Mortgage insurance division is not going to move its top executives especially its leader Todd Chamberlain to Greensboro just for some ordinary mortgage insurance operations. This is not a new seperate company. Its a similar situation with Lincoln Financial. The bank is based in Philadelphia but the insurance division is based in Greensboro. But it looks like this will be a "transitional" move from Richmond to Greensboro.
The article point blank says Greensboro will be the new mortgage insurance hub for the combined bank. SunTrust Mortgage insurance division is not going to move its top executives to Greensboro just for some ordinary mortgage insurance operations.
I'm either reading a different article or blind. Please point to that quote.
It's not mortgage insurance. It's general mortgage operations. That's not necessarily just call center and paper pushing.
Mortage insurance is a big part of the operations.
No, no it's not. They're two totally different things.
FWIW, while having a brand new spin off company might sound "sexier", getting the new bank's mortgage operations in Greensboro is a bigger win. Mortgage insurance really isn't that big of a business.
No, no it's not. They're two totally different things.
FWIW, while having a brand new spin off company might sound "sexier", getting the new bank's mortgage operations in Greensboro is a bigger win.
This is very True. And moves the city needs to keep making.
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