Suntrust to move it's mortage leadership team from Richmond to Greensboro following BB&T merger.

[Charlotte485]

Originally Posted by GSOCitizen

it's speculatory but news like this is exciting.


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.

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.[/quote]


Yeah. Losing the HQ to Charlotte, then having this hub going to a city a few miles, literally, down the road to GSO. It’ll be years before we know what Atlanta, Greensboro and Winston look like no matter what promises are made.

[Big John NC]

Originally Posted by gsoboi78

Whether its insurance related or not its a big deal for Greensboro. The thread topic started out with this being an insurance related deal so that's why everyone is talking about insurance.

1. Its not a big deal...its a couple of dozen jobs over 2 years.
2. The topic didn't start out "being an insurance related deal" because it isn't.
3. You're the only one attempting to somehow make this an insurance deal. Its a mortgage company. Thats all. The only connection to insurance is that mortgage lending is a financial services business, as is insurance. As is other businesses.

[Big John NC]

Originally Posted by Charlotte485

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.

Yeah. Losing the HQ to Charlotte, then having this hub going to a city a few miles, literally, down the road to GSO. It’ll be years before we know what Atlanta, Greensboro and Winston look like no matter what promises are made.[/quote]

I wonder if there is a "prize" for W-S being discussed behind the scenes? Will be interesting to see if something happens there.

[gsoboi78]

Yeah you would think Winston-Salem would have got it as a sort of a consolation prize. BB&T has been a part of Winston-Salem for a long time. But for Greensboro this could be potentially huge because of what the hub could lead to down the road. This is a big win for white collar jobs which is something Greensboro badly needs.

For now it's a couple of dozen jobs but what this is leading to is Greensboro being home of the mortgage headquarters which will translate to more jobs.

[HRVT]

Originally Posted by Big John NC

1. Its not a big deal...its a couple of dozen jobs over 2 years.
2. The topic didn't start out "being an insurance related deal" because it isn't.
3. You're the only one attempting to somehow make this an insurance deal. Its a mortgage company. Thats all. The only connection to insurance is that mortgage lending is a financial services business, as is insurance. As is other businesses.

1. It's 36 leadership jobs. That often foreshadows more jobs later. In this case, it would be fair to believe that this will lead to more jobs later (as I mentioned before, mostly a wash from lost jobs... but it's better than losing the job count entirely). In fact, GSOboi's speculation is probably fair (as long as he passes it off as speculation and not fact).

2. Correct, I'm not sure where GSOboi got insurance from. It isn't mentioned as an insurance deal anywhere. I could see how (as a stretch) maybe having Arch here maybe (not likely) had some kind of minor effect.... but again it'd be a real stretch and at most might have been a "hey, and now that we chose Greensboro, Arch is there too" kinda thing.

3. Really ties back to #2, I have nothing more to say.

As for Winston-Salem, they're getting the community banking center operations which will likely (almost certainly) be housed in the current HQ building. With the merger, there will be a lot of shuffling (especially with real estate). In the end, I get the feeling that the overall job count in the Triad won't be terribly affected... but there won't be nearly as many high-paying jobs which will be the big hit.