Capital One bringing 350 workers to Chicago, most from suburbs
BY DAVID ROEDER Business Reporter December 6, 2012 11:36AM
Credit card provider Capital One Financial Corp. said Thursday it will bring 350 workers to downtown Chicago, transferring most of them from suburban locations. The company has subleased 65,000 square feet in the 77 W. Wacker building | Brian Jackson~Sun-Times
Updated: December 6, 2012 3:06PM
Credit card provider Capital One Financial Corp. said Thursday it will bring 350 workers to downtown Chicago, transferring most of them from suburban locations.
The company has subleased 65,000 square feet in the 77 W. Wacker building, where it intends to relocate by late 2013. Capital One said the location will be one of three hubs for its U.S. credit card business.
Capital One made its announcement jointly with Mayor Rahm Emanuel, who said the decision offered evidence of downtown’s attractiveness to employers. Emanuel has coordinated job announcements with about 70 companies since he took office a year and a half ago.
The Wacker site “is a great location that provides us with access to all the resources that the city has to offer — transportation and an experienced and an incredibly talented work force,” said Ian Cunningham, managing vice president at Capital One.
The company bought the HSBC credit card operations last May. Cunningham said that since then, it has been trying to determine the best “footprint” for the business and its more than 1,000 local employees.
Some will move to a new home at the Rolling Meadows Atrium Corporate Center.
The company will sublease the 77 W. Wacker space from United Airlines, which is moving to Willis Tower.
No government subsidies are involved in the move.
The HSBC business was based in north suburban Mettawa. Capital One spokeswoman Julie Rakes said the company will depart from Mettawa during 2014 and relocate those workers either to Rolling Meadows or downtown.
Capital One said its other credit card hubs are in McLean and Richmond, Va.