BNY Mellon decides to stay in Tacoma
Facing an expiring lease in their current location at Broadway Plaza – right across the street from Hotel Murano – BNY Mellon, over a course of several months, considered multiple relocation spots in the region. The end result is that BNY Mellon, a publicly traded company, decided to remain in downtown Tacoma and signed a long-term lease in the current location for their more than 170 local employees.
“When a Fortune 200 firm makes a decision like this to continue a long term investment here, it sends a signal to the market that Tacoma is a great place for businesses to invest,” said EDB President and CEO Bruce Kendall. “This continues a trend of noteworthy private sector investments in Tacoma, and we need to keep working toward making Tacoma even more competitive.”
One of Tacoma’s top 25 for-profit employers, this BNY Mellon office was originally established as a joint venture between Russell Investments and Mellon Financial Corporation in 1999 to perform investment analytics for global clients. The Russell/Mellon business unit stayed in Tacoma after Russell sold its 50% interest in the joint venture back to Mellon in 2005, and remained in Tacoma again after the 2007 merger of Mellon and Bank of New York.
“We have had incredible sustained success operating our business in downtown Tacoma,” said BNY Mellon Senior Vice President Steve Wolf. “We’ve been able to partner with great local universities like Pacific Lutheran University, University of Puget Sound and University of Washington Tacoma to help us develop a highly skilled workforce, and our employees consistently give back to the community as well. It has also been a pleasure working with the City of Tacoma.”
“BNY Mellon has added incredible value to Tacoma’s downtown core for over a decade, and we are excited they’ve decided to continue their investment here. I’ve enjoyed working with Steve and other executives at BNY Mellon to ensure that Tacoma is the right place for their business,” added Tacoma Mayor Marilyn Strickland.