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In 2001, KLG assisted one of the World’s largest
financial services firms establish a new operations center
in Baltimore, Maryland to provide clearing and settlement
services for the firm’s Institutional Equity and Fixed
Income products.
The Baltimore center ultimately is planned to be able to
accommodate in excess of 600 employees and save more than
$30 million per annum. As part of the project, KLG secured
for the client commitments of state and local incentives
worth up to $15 million.
The client’s goals were to achieve significant cost
savings on both labor and real estate, tap a top quality
workforce suitable to a complex mission-critical set of
functions, and maintain close proximity to its world headquarters
in Manhattan – and not be solely reliant on air travel.
Additionally, the client emphasized the need to identify
a location that could eventually serve as a viable platform
for revenue-producing front office functions.
Baltimore was selected from among a wide range of options
nationwide. It provides a world-class pool of experienced
workers with relevant Securities Industry experience. Baltimore
is headquarters to Legg Mason, T. Rowe Price, and for more
than 100 years was the home of the venerable investment
bank Alex Brown. Additionally, the many top colleges and
universities throughout both the Baltimore and nearby Washington,
D.C. metro areas provide an abundant supply of high-quality
entry-level talent.
The client’s needs for easy, rapid access to Manhattan
is facilitated by rail service direct to Manhattan in less
than 2 1⁄2 hours. Additionally, the three major local
airports provide convenient transportation options to virtually
any place worldwide.
The firm’s operations center is located in a new
facility on Baltimore’s waterfront and provides –
in addition to expansive views of the harbor – state-of-the-art
infrastructure and resiliency capabilities.
Please take some time to look at just a few of
the many examples of how we have helped companies develop
location strategies and achieve significant competitive
advantages:
Credit Suisse First Boston,
Global Business Center, Raleigh-Durham, North Carolina
Institutional Securities
Operations Center, Baltimore, Maryland
Chase Credit Card Growth Strategy,
Tampa, Florida
Fixed Income and Derivatives Research Center, Budapest, Hungary
Getting fired by a client …
and bragging about it
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