After a nationwide search, AssetMark Financial Holdings Inc. has chosen Charlotte, North Carolina, as the location for its new East Coast hub. The wealth management platform will invest $10 million in the central business district of Charlotte, creating 252 jobs.
“We are excited about our partnership with Charlotte and the State of North Carolina, which will allow us to establish our East Coast hub,” said Lou Maiuri, chairman and group CEO for AssetMark. “The committed investment from North Carolina allows us to grow our cross-functional presence in Charlotte so that we can better serve a significant portion of our clients.”
The jobs created by this expansion include positions such as product engineers and designers, senior sales relationship managers, trading engineers, and operations personnel. The average annual wage for these roles is expected to be $110,000.
“AssetMark Financial Holdings’ decision to expand in Mecklenburg County is the latest proof of our competitive advantage,” said Mecklenburg Board of County Commissioners Chair Mark Jerrell.
Charlotte Mayor Vi Lyles expressed enthusiasm about the development: “We are thrilled that AssetMark Financial Holdings has chosen Charlotte for its new hub.”
Governor Josh Stein also commented on the expansion: “AssetMark’s decision to grow their business in Charlotte proves once again that CEOs recognize North Carolina as one of the country’s best places to do business.”
This project was supported by various organizations including Mecklenburg County, the City of Charlotte, and several state agencies.
In recent months, similar efforts have led to nearly $200 million in capital investment and over 1,800 new jobs in Mecklenburg County.
