Investment banking giant Credit Suisse is hunting for local office space that can accommodate 400 new hires, including more than 200 workers it hopes to add before the end of the year.
Achieving that goal, however, depends on how quickly it can find, and move into, a suitable building.
Jim Captain, site executive for the Swiss company, said he’s hoping the business can start moving into new space this summer.
Credit Suisse currently employs 1,600 workers at its Research Triangle Park site – 1,400 employees plus 200 contractors – and has run out of room.
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“We’ve pretty much filled every crevice in the building,” said Captain, who noted that the company reconfigured its 205,000-square-foot RTP site several years ago to expand its capacity.
Credit Suisse just celebrated its 10th anniversary in RTP.
The company was the first major financial services firm to relocate a substantial portion of its operations to the Triangle, and has since been joined by Fidelity Investments, Deutsche Bank and MetLife.
“We hired our first 80 people this week in 2005,” Captain said.
“We’ve grown (steadily) over the years,” he added. “I view this announcement as an endorsement by the executive board that they recognize the value” of the RTP operation.
Many of the new hires the company wants to add locally would involve jobs in risk management, regulatory reporting and compliance.
More than half of Credit Suisse’s local workforce today is involved in technology, everything from developing trading applications to technical support.
The RTP site also employs workers in finance, investment banking and research.
“It’s pretty much a good representation of everything but the trading desks we have in New York,” Captain said. “We are a full-service support organization for the bank.”