TUESDAY July 9, 2019
Public legal notices begin on page 3
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Daily Record JACKSONVILLE
Two projects would create 320 jobs in Jacksonville
Deutsche Bank Daily Record job cuts loom
THE MATHIS REPORT
JACKSONVILLE
The unidentified companies seek city and state incentives to set up operations.
Daily Record Daily Record
“I personally greatly regret the impact this will have on some of you. In the long-term interests of our bank, however, we have no choice other than to approach this transformation decisively.”
JACKSONVILLE
BY KAREN BRUNE MATHIS EDITOR
CHRISTIAN SEWING, DEUTSCHE BANK CEO
DEUTSCHE BANK IN JACKSONVILLE
JACKSONVILLE
The bank’s Jacksonville Global Business Service Center opened in July 2008. Here’s where it stands now: Jobs: 2,100 as of September 2017
Offices: Two, at 5022 and 5201 Gate Parkway. They total 350,000 square feet of space.
KAREN BRUNE MATHIS EDITOR
Germany-based company is cutting about 20% of its workforce in a restructuring. Deutsche Bank employees worldwide and the estimated 2,100 in Jacksonville wondered Monday how the Germanybased company’s restructuring and plans to cut 18,000 jobs — roughly one out of five — would affect them. Jacksonville’s workforce is expected to be cut because Deutsche Bank will
leave the equity sales and trading business, which employs staff in the Southside operations centers. At the same time, at least 89 job postings for Deutsche Bank in Jacksonville were listed as of Monday morning on indeed.com, including several for “Regulation, Compliance and Anti-Financial Crime.” Some were posted as recently as four days before. Deutsche Bank said it will invest more into improving controls and combine its risk, compliance and anti-financial crime functions “to strengthen processes and controls while also increasing efficiency.” The state had not posted layoffs by Deutsche Bank as of Monday afternoon. The mayor’s office and the chamber did not respond immediately for requests for comment. The bank announced Sunday that its restructuring actions will include a workforce reduction to around 74,000 employees by 2022 but said it was too early to comment on specific details about how its announcement to “signif-
Two unidentified projects, one pledging 300 jobs and another promising 20, say that city and state incentives are a factor in their decision to establish operations in Jacksonville. The Mayor’s Budget Review Committee voted Monday to authorize the introduction of a resolution to City Council on July 23 to allow the mayor to execute an economic development agreement with the projects.
PROJECT QUAIL
icantly downsize its investment bank” will affect its Jacksonville operations. Deutsche Bank employed an estimated 2,100 employees in Jacksonville as of September 2017, said Brian Fay as he took over as head of Deutsche Bank at the company’s Southside campuses. JAX Chamber’s list of the top employers says Deutsche Bank has 2,250 area employees. The bank said it “is radically transforming its business model to become more profitable, improve shareholder returns and drive long-term growth.” “To execute its transformation, the bank will significantly downsize its investment bank and aims to cut total costs by a quarter by 2022,” it said. It had 91,500 employees worldwide. The bank said that restructuring costs will reach $8.3 billion by 2022, according to the Reuters news service. CEO Christian Sewing sent an email to staff Sunday. “I personally greatly regret the impact this will have on some
Project Quail proposes to create at least 300 full-time jobs at a Southeast operations center in Jacksonville. The city describes the company as an international web-based financial services company that offers personal loan products. The jobs would be created by year-end 2021 and pay an average wage of $54,941, excluding benefits, creating an annual payroll of $16.4 million. It seeks $1.5 million from the city and state under the Qualified Target Industry Tax Refund program. The program would refund $5,000 per job, comprising $300,000, or 20%, from the city and $1.2 million, or 80%, from the state after the jobs are created and the wages verified by the Florida Department of Economic Opportunity starting in 2022. No location is identified. Quail would make a capital investment of $5.5 million comprising real estate improvements, IT equipment, furniture and fixtures.
SEE PROJECTS, PAGE 2
SEE PROJECTS, PAGE 2
Voya Financial closing in Baymeadows Voya Financial will permanently close its Baymeadows site and lay off 267 employees in phases between Sept. 25 and April 30. The closing coincides with Voya’s lease expiration at 8900 Prominence Parkway. Voya spokesperson Kris Kagel said that much of the Jacksonville work is moving to the company’s new office in the Phoenix area. Kagel said many employees and managers are relocating and some will continue with the company working from home. The 267 jobs include customer contact center representatives, recordkeepers and other titles.
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