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Thursday, August 16, 2018

Macquarie Preps a Historic HQ Move

News summary by MFWire's editors

Macquarie Investment Management is moving, but it's staying in its hometown.

In 2020 the Philadelphia-based multinational asset manager's headquarters will move into 100 Independence Mall West, confirms Shawn Lytle, deputy global head of Macquarie IM [profile] and president of Macquarie's Delaware Funds. Macquarie is currently based about a mile and a half away, at One Commerce Square, and the firm's mutual fund business has been in the city since 1929.

The Philadelphia Inquirer picked up on the news.

Macquarie IM, the asset management arm of Australian multinational Macquarie Group, has signed a lease with Keystone Property Group to move into 145,000 square feet of space in the historic building. The deal includes naming rights, the building's top three floors, a private entrance lobby, and maybe a roof deck, the Inquirer reports. Macquarie IM has about 550 people in its Philly HQ.

"With this move, we look forward to reimagining this iconic space to combine the best of old and new, maintaining its historical significance while modernizing it to reflect our company culture and our position as a destination employer in the Delaware Valley," Lytle states. 

Edited by: Neil Anderson, Managing Editor

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