urbanSTL

I’m hearing that WF is moving a portion of its Wealth Management business to W Palm Beach. Anyone know what, if any, effects this may have on StL?

https://twitter.com/i/trending/2013679861295087934

As of now, it looks like 100 senior executives. Does this mean they’re keeping some of the operation here in St. Louis or moving everything out? Obviously they’ve been downsizing their footprint over at the campus. Still a big blow!

Does anybody know how many people work there now and if the plan is to keep a good sized operation here in St. Louis? Or is the entire thing moving?

3,500 work there now

I’m not sure you AI summary is correct. What I’m reading is that the institutional investor business is moving to Florida which is different from the brokerage in StL. I’m sure there will be some bodies in StL moving to FL but I don’t think they are moving the Advisors business to FL.

If there are only 100 executives leaving, there should still be a significant operation here.

It’s not 100 from StL. Offices impacted include NY, SF and Charlotte to name only three.

JaneJacobsGhost wrote: ↑

1:25 AM - Jan 21

It’s not 100 from StL. Offices impacted include NY, SF and Charlotte to name only three.

So the impact locally should be minimal correct?

JaneJacobsGhost wrote:I’m hearing that WF is moving a portion of its Wealth Management business to W Palm Beach. Anyone know what, if any, effects this may have on StL?

Found this website with a few different threads regarding Wells Fargo in STL. Not sure how accurate but seems like WIM very senior execs only to Palm Beach for now.
https://www.thelayoff.com/t/1kf116bd6


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gone corporate wrote:It's just 100 employees from their Wealth Management division, which is based in NY. Meanwhile, STL will retain its core brokerage operations and senior executives. 

All of their STL executives are moving to Florida, and if you look at their job postings, they barely have any jobs in St. Louis while Charlotte has 100s of jobs.

While this won’t have much immediate impact, it’s not a great sign for their long term growth in STL.

Yea pretty bad sign for WF in STL

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https://www.bizjournals.com/stlouis/new ... louis.html

Stadium One Building at 1831 Chestnut is apparently now totally vacant after Momentum Worldwide moved to St. Charles and Weber Shandwick went totally virtual.

This is in addition to Anthem moving to a different downtown location.

Combined, this is 136 fewer workers and the 420,000 square foot building being totally vacant.

Momentum had moved downtown from Clayton in 2016.


https://www.bizjournals.com/stlouis/new ... space.html

Advertising firm Experience Fresh moved from 2815 Locust to over 13,000 square feet at 308 N 21st St in Downtown West. They have 34 employees.

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1831 Chestnut
Aldi's on the first floor with plenty of parking in the adjacent building? I know its crazy talk

Greater StL really racking up the wins.

matguy70 wrote: ↑

3:09 AM - Jan 22

Stop the drama. There is enough fake news in the world.

Wells Fargo Advisors headquarters in St. Louis today has around 6200 employees at the Market/Jefferson headquarters.  They have added over 2,000 employees since AG Edward's and Wachovia days.  

Not one employee is moving from STL, Charlotte or NY.  Only 100 from California of their 23,000 in San Francisco.

https://www.costar.com/article/62283284 ... palm-beach

3,500 total
And that’s a direct quote from the guy leading the office last month at biz journals downtown event at Union station.

matguy70 wrote:Stop the drama. There is enough fake news in the world.

Wells Fargo Advisors headquarters in St. Louis today has around 6200 employees at the Market/Jefferson headquarters.  They have added over 2,000 employees since AG Edward's and Wachovia days.  

Not one employee is moving from STL, Charlotte or NY.  Only 100 from California of their 23,000 in San Francisco.

https://www.costar.com/article/62283284 ... palm-beach

It’s not drama. That is direct info from people that work there.

To my point about new jobs. Wells Fargo’s job site currently shows 12 jobs in St. Louis and 154 in Charlotte. https://www.wellsfargojobs.com/en/

The only reason they keep the St. Louis campus is because it’s cheap real estate, but they clearly have no desire to grow here long term. Hopefully our civic leadership takes it as a wake up call to work with them, get them to believe in St. Louis’ future, and invest here

STLcommenter wrote: ↑

3:28 AM - Jan 22

matguy70 wrote:Stop the drama. There is enough fake news in the world.

Wells Fargo Advisors headquarters in St. Louis today has around 6200 employees at the Market/Jefferson headquarters.  They have added over 2,000 employees since AG Edward's and Wachovia days.  

Not one employee is moving from STL, Charlotte or NY.  Only 100 from California of their 23,000 in San Francisco.

https://www.costar.com/article/62283284 ... palm-beach

It’s not drama. That is direct info from people that work there.

To my point about new jobs. Wells Fargo’s job site currently shows 12 jobs in St. Louis and 154 in Charlotte. https://www.wellsfargojobs.com/en/

The only reason they keep the St. Louis campus is because it’s cheap real estate, but they clearly have no desire to grow here long term. Hopefully our civic leadership takes it as a wake up call to work with them, get them to believe in St. Louis’ future, and invest here

There are 51 openings in NYC.

11 openings in Chicago.

30 openings in SF.

31 openings in LA.

Basing your conclusions on job postings on a website means you have no inside information. You have nothing to offer.

Also, just because a job is posted on a website doesn’t means there is actually a real job waiting behind it.

JaneJacobsGhost wrote:

STLcommenter wrote: ↑

3:28 AM - Jan 22

matguy70 wrote:Stop the drama. There is enough fake news in the world.

Wells Fargo Advisors headquarters in St. Louis today has around 6200 employees at the Market/Jefferson headquarters.  They have added over 2,000 employees since AG Edward's and Wachovia days.  

Not one employee is moving from STL, Charlotte or NY.  Only 100 from California of their 23,000 in San Francisco.

https://www.costar.com/article/62283284 ... palm-beach

It’s not drama. That is direct info from people that work there.

To my point about new jobs. Wells Fargo’s job site currently shows 12 jobs in St. Louis and 154 in Charlotte. https://www.wellsfargojobs.com/en/

The only reason they keep the St. Louis campus is because it’s cheap real estate, but they clearly have no desire to grow here long term. Hopefully our civic leadership takes it as a wake up call to work with them, get them to believe in St. Louis’ future, and invest here

There are 51 openings in NYC.

11 openings in Chicago.

30 openings in SF.

31 openings in LA.

Basing your conclusions on job postings on a website means you have no inside information. You have nothing to offer.

Also, just because a job is posted on a website doesn’t means there is actually a real job waiting behind it.

Lol ok. I thought this was a forum to discuss St. Louis. Everyone on here has something to offer.

Back to the main topic, so there’s 154 job postings in Charlotte, 51 in NYC, and only 12 in St. Louis. You’re ignoring reality if you think that doesn’t mean anything.

Let’s check back in on this thread in 10 years and see how their operations have changed in St. Louis.

matguy70 wrote:

dbInSouthCity wrote: ↑

3:12 AM - Jan 22

matguy70 wrote: ↑

3:09 AM - Jan 22

Stop the drama. There is enough fake news in the world.

Wells Fargo Advisors headquarters in St. Louis today has around 6200 employees at the Market/Jefferson headquarters.  They have added over 2,000 employees since AG Edward's and Wachovia days.  

Not one employee is moving from STL, Charlotte or NY.  Only 100 from California of their 23,000 in San Francisco.

https://www.costar.com/article/62283284 ... palm-beach

3,500 total
And that’s a direct quote from the guy leading the office last month at biz journals downtown event at Union station.

Thanks DB. My buddy works there. He says 6000 in the metro ... then possibly 3500 at the headquarters in the downtown west campus. Still larger than it was back when AG Edwards started.

This move of 100 execs out of California is completely for the wealth management decision. A completely different devision of the huge corporation of Wells Fargo. They are following the money as they said. That area of Florida is wealth and building up weath.

Just because they don't have as many job openings in STL (right now today) is a ridiculous general statement of the health of a huge corporation.

Wells Fargo Advisors (the sub company that is based in STL) is a subsidiary of that Wealth Management Division that is moving to Florida.

The low job postings in STL have been an ongoing trend for years, I wouldn’t just make a statement like that by looking at a job board on one singular day.

StlAlex wrote: ↑

12:27 AM - Jan 22

https://www.bizjournals.com/stlouis/new ... louis.html

Stadium One Building at 1831 Chestnut is apparently now totally vacant after Momentum Worldwide moved to St. Charles and Weber Shandwick went totally virtual.

This is in addition to Anthem moving to a different downtown location.

Combined, this is 136 fewer workers and the 420,000 square foot building being totally vacant.

Momentum had moved downtown from Clayton in 2016.


https://www.bizjournals.com/stlouis/new ... space.html

Advertising firm Experience Fresh moved from 2815 Locust to over 13,000 square feet at 308 N 21st St in Downtown West. They have 34 employees.

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The global marketing comms industry is undergoing a major agency shake-up with Omnicom's recently closed purchase of IPG.

Locally, Momentum, Weber Shandwick and National Honors Society were all IPG.  About 300 total people there. WS and NHS were co-tenants of 555 Washington for a long time. WS moved in with Momentum at 1831 Chestnut some years back.  

With the merger closed, all of those former IPG agencies will likely move to Clayton and share space with Fleishman-Hillard. 

As far as I know, FH is the only Omnicom agency with a presence here. I don't know for certain, but would guess FH has 150ish people here.

The FH space in Clayton doesn't have room for those 450 people and never will. So, all of those creative agencies will do a combo of WFH and hot desking in Clayton.

I've said it here before but the immediate area around 1831 Chesnut just isn't that great.  555 Washington was vastly superior and it wasn't all that great post Covid. Clayton is better than the area around 1831.