Governor Josh Stein announced Tuesday that SMBC Group, one of Japan’s largest financial institutions, will establish its second U.S. headquarters in Charlotte to support its operations, creating 2,000 jobs over the course of six years. The company will invest $50.5 million in Mecklenburg County by fall 2027.
Gov. Stein met with leaders from the company to recruit them to North Carolina during his business development trip to Tokyo last fall.
“Japan is one of North Carolina’s top economic partners, and I’m honored to welcome another leading Japanese company to our state,” said Gov. Stein. “Charlotte, the second biggest banking center in the United States, will be an ideal home for SMBC’s second North American headquarters as the bank continues to grow.”
SMBC, with headquarters in Tokyo, is part of the Sumitomo Mitsui Financial Group, Inc. (SMFG), one of the three largest banking groups in Japan with more than 150 offices in nearly 40 countries and 120,000 employees worldwide. With roots that date back more than four centuries in Japan and 100 years in the U.S., the company offers a range of financial services, including banking, leasing, securities, credit cards, and consumer finance. SMFG conducts banking activities through its wholly owned direct subsidiary, SMBC. The Charlotte project will establish a major hub for the company to support the growth of multiple business units and expand its talent diversity.
“As SMBC continues to grow substantially in the United States, Charlotte is a standout location for us to invest in North Carolina for the long term in a major expansion that will establish our roots in the community,” said Hirofumi Otsuka, CEO for SMBC Americas. “A major financial services hub, Charlotte has a deep pool of talent that we will tap into and help build out as we position our bank for long-term success while contributing to the broader local economy. We appreciate the support of Governor Stein and other public leaders as we set out to create 2,000 jobs over the next six years.”
“Charlotte is the premier destination for world-class financial services companies like SMBC to find talent and drive growth,” said North Carolina Commerce Secretary Lee Lilley. “Japanese companies are the top source of foreign direct investment into North Carolina, and SMBC is a welcome addition to the family of Japanese companies that call North Carolina home.”
Although wages will vary depending on each position, the average salary for all the new positions will be $165,316. The average wage in Mecklenburg County stands at $90,706.
“This is the largest jobs announcement in Mecklenburg County since 2020,” said Charlotte Regional Business Alliance COO and Head of Economic Development Tracy Dodson. “SMBC’s investment adds to the more than 5,000 jobs created through foreign direct investment in the region since 2022, reinforcing the Charlotte Region’s position as a global business hub.”
The North Carolina Department of Commerce, Economic Development Partnership of North Carolina, the North Carolina General Assembly, the North Carolina Community College System, the Commerce Department’s Division of Workforce Solutions, the University of North Carolina at Charlotte, Central Piedmont Community College, Mecklenburg County, the City of Charlotte, Charlotte Center City Partners, and the Charlotte Regional Business Alliance partnered on this project.
