Banking giant opens Ballantyne office, adding over 500 jobs in Charlotte
Global financial giant Citi debuted its new south Charlotte office on Monday, marking its $16.1 million investment and expansion in North Carolina.
The three-floor, 90,000-square-foot office for Citigroup Technology, a division of the investment bank and financial services firm Citigroup, is at 11225 North Community House Road in Ballantyne.
The New York City-based firm has promised to more than double the number of workers in the Charlotte area, pledging to add 510 workers by the end of 2027. Before the expansion, Citi employed about 350 employees in Charlotte across several lines of business in temporary spaces.
That’s 860 total employees, with room for 900 in the new space.
By next month, there will be 400 employees working in the region, Edward Skyler, Citi’s head of enterprise services and public affairs, told The Charlotte Observer on Monday. “This expansion deepens our commitment to Charlotte,” he said.
Why Citi chose Charlotte for expansion
About 100 people, including state and local government officials, gathered Monday afternoon in the building lobby for an opening event following storm threats.
“The way I say it is that North Carolina was the perfect choice for Citi to make. After all, we are the nation’s second-largest financial center,” Gov. Josh Stein said.
Citigroup is the third-largest banking institution in the U.S. by assets, behind JPMorgan Chase and Bank of America. Charlotte is one of the nation’s top financial centers dominated by Bank of America, Wells Fargo and Truist.
“We knew there was this great talent pool (in Charlotte), the state is known for being business friendly and it’s got a great quality of life, so it had all the ingredients for us to create a permanent presence here,” Skyler said. “It’s also great for our people to have a place to call that’s ours, for morale, collaboration, that sense of community.”
Citi hiring and what to expect in Charlotte
Citi anticipates hiring for support services, risk management, client credit, personal banking and financial risk. The average annual salary for these new positions is expected to be at least $131,000, significantly above the Mecklenburg County average wage.
Mecklenburg’s average wage is $90,706 as of January, according to state data.
For its investment, the state awarded Citigroup tax incentives worth up to $8.9 million if the company reaches its hiring and investment goals. The state also approved $2 million for job training for Citigroup’s project.
The city of Charlotte and Mecklenburg County are providing about $375,000 in local tax incentives.
During Monday’s event, the company presented a $50,000 donation and pledging 500 volunteer hours to Nourish Up, formerly Fishes & Loaves, a nonprofit addressing food insecurity for Charlotte families.
Citi has also been investing in Charlotte through four affordable housing projects, creating or preserving over 630 units, Stein said.
Citi has about 80,000 employees in the U.S. with about a quarter in New York, and the rest in places like Charlotte; Tampa, Florida; San Antonio, Texas; St. Louis; and Tuscon, Arizona, Skyler said.
Citigroup reported revenue of $85.2 billion last year, a 6% increase from $80.7 billion in 2024.
Other bank expansions in Charlotte
Several other banks have been expanding in the Charlotte region, too.
The list includes Minnesota-based U.S. Bank, Florida-based BankUnited, California-based City National Bank, Tennessee-based First Horizon Bank, New York-based JPMorgan Chase, Ohio-based banks Huntington National Bank and Fifth Third Bank, Pittsburg-based banks First National Bank and PNC Bank, SoFi Technologies, and Texas-based USAA.
“For decades, the financial services industry has been integral to North Carolina’s economic success, nowhere more so than here in Charlotte,” Stein said. “Strong financial institutions are integral to strong communities. So, our state success is intertwined with the finance world success.”
This story was originally published March 16, 2026 at 4:01 PM with the headline "Banking giant opens Ballantyne office, adding over 500 jobs in Charlotte."
