Editor’s note: This is the first in a new series about economic development in North Carolina called “Why NC?” The series is a colaborative effort of the NC TECH Association and Racepoint Global in partnership with WRAL TechWire.
Why NC? Deutsche Bank
Founded in 1870, Deutsche Bank is a leading European bank with global reach. Having first established a presence in the Americas in the 19th century, the bank began independent operations in the US in 1978, opening its first North American branch in New York City. In October 2001, Deutsche Bank was the first German bank to list on the NYSE and one of the largest foreign-based employers in New York City. In 2009, Deutsche Bank launched its US Technology Center in Cary. Why NC?
NCTECH/Racepoint Global image
We asked Eban Scanlan, Head of CIO Risk, Finance and Treasury Americas, Head of Cary Technology Canter (DB Global Technology Inc.) that same question and more:
- Why did you open an office in NC?
North Carolina consistently ranks as one of the top geographic areas to live, work and play. Deutsche Bank’s Cary, NC location was established as a part of a global network of technology centers and designated as the US technology center. Cary provides easy travel to Deutsche Bank’s Americas’ headquarters in New York City and its operations center in Jacksonville, Florida. Proximity to universities with strong technology credentials to support recruitment, and a desirable quality of life for individuals and families made Cary a good choice. Seasonal weather, strong primary school system, cultural attractions, and the natural beauty of the area make it a place where people want to be.
- Why is NC a great place to do business?
North Carolina has a rich talent pool of candidates with diverse experience, coupled with a network of top ranked universities. The region’s concentration of competitive companies enhances the ability to learn and knowledge-share.
The proximity to key bank partners in the area including Microsoft, Red Hat, SAS, Google and HCL, provides additional benefits and network effects.
Opportunities to connect with the community are equally valuable. Deutsche Bank colleagues are eager to participate in various technology meetups, hackathons and STEM initiatives in area schools where they can support continuous learning for themselves, peers and students.
- What makes you attractive to potential talent + clients?
The Cary Technology Center has a robust, hands on engineering culture focusing on continuous learning so the bank not only offers formal training, but also employee driven training that encourages knowledge-sharing, technical skill development and networking.
Deutsche Bank emphasizes recognition and promotion, providing internal mobility and flexible working arrangements. The workforce reflects diversity in gender, experience, and culture bringing a myriad of experience and perspective on the software development process.
- Have you had to change anything given the current recruitment climate?
Deutsche Bank recognizes the need to hire qualified talent into the bank efficiently. We now partner collaboratively across ~ 6 different Chief Information Office groups with a team of hiring managers and recruiters assessing candidates for the many opportunities across the Cary domain. Therefore, instead of each group running their own process of sourcing candidates, screening resumes, interviewing candidates, providing feedback, and making offers, there is now one standard and consistent process. This has reduced time to offer for ~60% of the hire plan.
- What sets your business apart from others in this space?
Deutsche Bank’s Cary location is a dedicated technology center focused exclusively on application development that supports global client systems. As a global company, the work is unique in North Carolina driving innovation around Cloud, Data, AI/ML applications utilizing the leading-edge technology compared with peers.
- Where do you see your company in 5 years?
Deutsche Bank will continue to evolve and grow the US Technology Center, anticipating a 1000+ strong workforce who will continue delivering technology solutions, especially in exploring and optimizing technology and innovation such as cloud, AI/ML. In addition to focusing on the expansion of junior talent, more senior roles and portfolio owners will work directly from North Carolina, driving and leading some of the bank’s most critical technology initiatives. Supporting ESG for the bank will also be an important focus given the bank’s continued prioritization of environment and sustainability.
Fact box:
Deustche Bank
Company HQ: Frankfurt, Germany
NC Office/Established: Cary NC, opened 2009
Number of NC employees: 585
Total global employees 82,969 *2021 Deutsche Bank HR Report
