Clearing bank The Bank of London is set to open a new hub in North Carolina, US.
In Brief:
The Bank of London is the first purpose built global clearing, agency and transaction bank.
It will open its Global Platform & Services headquarters in Charlotte.
The hub will host 350 new roles by 2026, and the business has already taken out an 11 year lease.
What does this mean?
The Bank of London is a technology-driven startup which aims to rival established banks in clearing and settlement and deliver transaction services for the corporate market. It also offers a banking-as-a-service model. The new centre will build on its expansion to date as it continues to invest in its technology offering.
