BNP Paribas Opens Expanded New Office in Chesterbook, PA

To Create Nearly 300 New, Full-Time Jobs in Pennsylvania

BNP Paribas, a premier global bank, today announced the opening of its Chesterbrook, Pennsylvania, location in the United States, establishing the bank’s interconnected campuses in the Northeast and its ‘office as a destination’ concept. Through its commitment to invest $18 million into the project, BNP Paribas will retain over 100 existing jobs, formerly based in King of Prussia, and will create nearly 300 new, full-time jobs in Pennsylvania over the next three years. The bank’s new location will accommodate the increase in its Pennsylvania workforce with approximately 59,000 rentable square footage.

José Placido, Chief Executive Officer of CIB Americas at BNP Paribas, said: “The bank has a long history in the US since 1858 with a strong presence in major cities – and we are so excited to add Chesterbrook as a key location for our corporate and institutional banking business. Our new office in Chesterbrook will not only play an important role to serve our clients but it will also be the model for our workplace of the future worldwide, with particular emphasis on wellbeing and employee experience.”

Governor Tom Wolf said: “My administration was pleased to support BNP Paribas’ earlier this year as the company announced its expansion and relocation efforts within the commonwealth. The company’s growth is an investment into this community, a testament to Pennsylvania’s business climate, and creates hundreds of new job opportunities for this region.”

BNP Paribas’ 735 Chesterbrook Boulevard campus will be a hub for the bank to co-create and tailor best-in-class platforms and products for clients. The new location will also create a ‘home from home’ for the bank’s core business lines. As BNP Paribas continues to pursue and execute on its growth ambitions in the region, the 735 Chesterbrook Boulevard campus will integrate seamlessly with the bank’s other campuses in New York City and Jersey City, each with their own strong identity.

Stephen Card, Principal and Director, Acquisitions at Rubenstein Partners, said: "We are proud that Chesterbrook now plays an important part in BNP Paribas' vision of the modern office. We strive to create best-in-class amenitized office environments for the evolving needs of companies and their talent, and we could not be more pleased that BNP Paribas chose Chesterbrook."

At the forefront of the bank’s vision for all of its entities and locations, the new 735 Chesterbrook Boulevard campus will serve as an ‘office as a destination,’ defined as a hub of collaboration, community, culture and technology. The evolution of BNP Paribas’ workspaces will encourage inclusivity, create natural interactions among co-workers, and provide flexible workspaces where staff can meet and exchange ideas. In addition to current LEED Gold Certifications, these changes to workspaces will allow BNP Paribas to achieve WELL Certification for its three campuses. The WELL Building Standard is utilized when building occupants implement features that help support and advance human health and wellness.

Kate Hutchinson, Head of CIB Americas Operations and Chesterbrook Campus, said: “As a local Pennsylvanian, I’m very happy to be opening our brand new office in Chesterbrook today. We want to thank everyone who’s helped BNP Paribas make this happen, including Governor Tom Wolf, Secretary Dennis Davin, State Senator Carolyn Comitta, Representative Chrissy Houlihan, and many others. We look forward to starting this new chapter and also becoming a bigger part of the community.”

BNP Paribas employees will be empowered to do their best work and will be supported with active lifestyle amenities offered on the new 735 Chesterbrook Boulevard campus. The new office will feature modern spaces, technology and a beautiful, natural environment surrounded by running and hiking trails. An adjacent Amenities Center will feature a food hall, fitness center, and an outdoor recreational area with fire pits. Embedded into the larger ecosystem of nearby universities, Downtown West Chester and Philadelphia, the 735 Chesterbrook Boulevard campus will serve as a link between our employees and the greater community.

State Senator Carolyn Comitta (D-West Chester) said: “We are pleased to welcome BNP Paribas’ expansion to Wayne. This is an important project that will bring millions in investment and hundreds of new, family-sustaining job opportunities to our region.”

Secretary Dennis Davin, Pennsylvania Department of Community and Economic Development (DCED), said: “It’s an honor to be a part of the next step in BNP Paribas’ story, just months after announcing their major expansion project that creates hundreds of new jobs for the region. Our commonwealth has so much to offer thriving businesses that are ready to grow. This new location meets the needs of the company’s increasing workforce, and the company’s investment into this community keeps existing positions while bringing many new jobs and opportunities to southeast Pennsylvania residents.”

BNP Paribas received a funding proposal from the Department of Community and Economic Development (DCED) for the expansion for a $1.15 million Pennsylvania First grant and $837,000 in Job Creation Tax Credits (JCTC) to be distributed upon the creation of new jobs.

About BNP Paribas

BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 68 countries and has more than 193,000 employees, including nearly 148,000 in Europe. The Group has key positions in its three main fields of activity: Retail Banking for the Group’s retail-banking networks and several specialised businesses including BNP Paribas Personal Finance and Arval ; Investment & Protection Services for savings, investment and protection solutions ; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated retail-banking model across several Mediterranean countries, Turkey, Eastern Europe as well as via a large network in the western part of the United States. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability.

About BNP Paribas in the USA

BNP Paribas has built a strong and diversified presence in the United States to support its client base. The bank employs close to 14,000 people and has had a presence in the USA since the late 1800s. Bank of the West serves over 2 million individuals and small & businesses through a network of around 600 branches and business centers. Large corporate and institutional clients are serviced by BNP Paribas’ Corporate & Institutional Banking franchise that has a presence in the main US cities, in addition to a global reach through a network of offices in EMEA and APAC. The bank also offers asset management services through BNP Paribas Asset Management as well as Real Estate and Fleet Services through partnerships.

For more information please see www.usa.bnpparibas.com/en/.

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