MDN: Wunderlich Securities Moving Downtown
Wunderlich Securities Inc. is preparing to move its corporate headquarters from East Memphis, where the investment firm employs 110 people, to Downtown’s One Commerce Square.
The firm, he added, is in the late stages of negotiating a lease for at least 12 years at One Commerce, where the firm is looking at occupying the 16th and 18th floors.
Wunderlich, which was founded in 1996, has been headquartered at 6000 Poplar Ave. in East Memphis for more than a decade, and about 100 employees appear set to make the move Downtown in time to start business there on May 1, 2018. Wunderlich plans to keep a presence in East Memphis, though details of where have yet to be determined.
“We’re very excited about (this) long-term and significant commitment to Memphis,” said Wunderlich, who added that the firm’s name will be atop the building on two sides, said its presence in One Commerce will help sell new Wunderlich recruits on both the firm and the city.
“We believe a Downtown corporate headquarters will prove extremely beneficial to our continued growth both here in Memphis and across the country. All of us are honored to become part of the Memphis skyline and eager to take advantage of all Downtown Memphis has to offer.”
Downtown Memphis Commission president and CEO Terence Patterson was on hand for the June 14 employee meeting to help talk up the benefits of being Downtown. Wunderlich said the firm also will apply for incentives from the commission.
Word of the relocation comes less than a month after news that Wunderlich is being acquired by publicly traded Los Angeles-based financial services firm, B. Riley Financial, in a $67 million deal.
The deal, meanwhile, doesn’t do anything to the Wunderlich brand or its operations. Instead, Wunderlich’s top executive stresses, the firm is doubling down on its commitment to Memphis, as the relocation shows. The more high-profile space is a symbol of that commitment, and “our headcount here in Memphis will grow.”