Front office banking jobs in the U.S are no longer confined to Wall Street. More client-facing jobs are expected to move away from New York in 2016, so finance professionals need to re-assess where they base themselves for the best role.
For Deutsche Bank, its office in Jacksonville, Fla. has been expanding rapidly since it launched in 2008. What started out as a centre for operational functions, has now evolved into a 1,700-strong office housing most of its major divisions. What's more, it has plans to add another 350 people over the next two years.
All of the bank’s divisions are represented in Jacksonville, including global markets, corporate & investment banking, asset management, as well as private banking, wealth and commercial clients, which are part of the wealth management division.
There are also still the infrastructure functions based in Florida, including operations, information technology, finance, cybersecurity, compliance, anti-financial crime, legal, group audit and risk.
Leslie Slover is a managing director at Deutsche Bank and the regional head of the firm’s Jacksonville, Fla. and Cary, N.C. offices. After working at Goldman Sachs, Slover joined Deutsche Bank in 1997 and has held various roles within the corporate banking & securities (CB&S) division. Prior to her current position, she was the chief operating officer for CB&S in the Americas.
What are the key front-office roles that are based in Jacksonville?
Many key front-office businesses have a presence in Jacksonville, including sales and relationship management, investment management, trading, research and structuring, which work across a variety of asset classes.
Is front-office hiring ongoing for this location, or is there any planned for later this year?
Deutsche Bank Jacksonville’s recruiting efforts are continuous throughout the year. A majority of our hiring happens locally, but we also attract diverse talent from other cities across the U.S. and abroad.
We have many open roles across all of our infrastructure businesses with an emphasis on finance, operations and technology. We also offer front-office career opportunities in sales, trading, research, product development, and investment management across global markets, corporate & investment banking, asset management, wealth management and global transaction banking.
Why does having an office with this mix of roles and departments make sense for DB from a strategic perspective?
A key element of the bank’s strategy is to optimize our global footprint. Jacksonville has been critical to this initiative as the largest operation in the U.S. outside of New York across front-office and infrastructure groups.
Can you share any future plans for this location?
In 2015, Deutsche Bank announced it will expand its footprint in Jacksonville by adding 350 jobs by 2018 and will lease more space at 5201 Gate Parkway to complement its existing footprint at 5022 Gate Parkway.
What are the factors that Deutsche Bank considered before deciding to move to Jacksonville?
The ease of travel to New York, relatively short commuting options to the office, mild weather during winters and the ability to tap into the talent pool at local universities are among many of the reasons why Deutsche Bank has chosen Jacksonville.
From a purely lifestyle perspective, how would you rate employees’ quality of life in Jacksonville?
Employees enjoy a better quality of life in Jacksonville versus some other cities where you experience long work commutes and harsh winter weather. The friendly environment, collaborative culture and opportunity to enjoy more outdoor activity time contribute to the better quality of life as well.
Is the office environment or overall culture noticeably different in Jacksonville compared to New York?
Due to the better quality of life in Jacksonville, the total number of employees and the sunnier weather, we have found it easier to build a sense of community, which is evidenced by the increase in philanthropic volunteerism among employees. In 2015 alone, Deutsche Bank employees contributed nearly 6,000 volunteer hours at local philanthropic events.
Lead image credit: Sean Pavone_iStock_Thinkstock; headshot of Leslie Slover courtesy of Deutsche Bank