Tampa financial services company to expand, add 250 jobs
March 11, 2016
Jerome Stockfisch | Tampa Tribune/TBO.com
Continuing one of the Tampa Bay area’s top economic development success stories, the Depository Trust & Clearing Corp. said it will take on more space in the Highwoods Preserve campus and add another 250 employees over the next several years.
The financial services company came to Tampa in 2004 out of post-9/11 fears that it needed to decentralize from its New York City base. Now, it has expanded into new lines of business, new partnerships and underwent a previous major expansion here in 2013.
“In the last 11 years, we’ve grown pretty dramatically,” said Marie Chinnici-Everitt, DTCC’s chief marketing officer and regional administrator for Tampa. “We’re now at the point where we’re at capacity in our facility. We’re bursting at the seams.”
The company leases 180,000 square feet at Highwoods Preserve in New Tampa and has just signed a lease for 33,000 more in a nearby building. There will be seats for 200 existing employees at the new site, which will also handle the 250 expected to come aboard over the next few years.
Those new employees can expect salaries in the $65,000 to $75,000 range, Chinnici-Everitt said.
DTCC is a critical behind-the-scenes player in the nation’s financial markets, processing trillions of dollars of stock, bond, mutual fund and options trades daily. When the company decided to open a southern operation, local economic development officials made a strong pitch, eventually awarding $6 million in financial incentives.
DTCC started with 300 employees, most relocated from New York. The new hires will take it to more than 1,000 employees here, and the company also has offices in Boston, Dallas, Europe and Asia.
“Tampa has been such a great location for us to have a big operation for a variety of reasons,” said Chinnici-Everitt. Among them: It’s in the same time zone as New York, but is on a different power grid; accessibility, particularly with Tampa International Airport; the climate; and, somewhat surprisingly for our oft-maligned market, a skilled labor force.
“The composition of talent here has changed dramatically over the last number of years,” Chinnici-Everitt said. “We have access to a lot of experienced talent.”
DTCC has built relationships with MacDill Air Force Base, the University of Tampa and the University of South Florida to develop training and recruitment programs. DTCC executives hold seats on the board of USF’s Florida Center for Cybersecurity, and the company has built a successful veterans’ transition program at MacDill.
“We’ve had no issues finding talent, both early-career and professional,” Chinnici-Everitt said.
DTCC has expanded beyond financial services into health care and security, and has a joint venture with the Financial Services Information Sharing and Analysis Center, aggregating and distilling cyberthreat information for other companies.
And it’s still fulfilling its original mission: When Superstorm Sandy knocked out power throughout the Northeast in 2012, “we ran the company for several weeks from Tampa without one single blip or disruption in service,” Chinnici-Everitt said.
DTCC is building out the new space and expects to move in this summer.
“We’re committed to growing here,” Chinnici-Everitt said. “It’s a terrific area.”