PhillyDeals: Sunoco moving from Lester to Newtown Square
Two major companies are planning moves - one of personnel within the region, one out of the Philadelphia region for the most part.
Two major companies are planning moves - one of personnel within the region, one out of the Philadelphia region for the most part.
Shrunken Sunoco Inc. is moving chief executive Robert Owens' office and other headquarters jobs from the company's leased space at the Airport Business Complex in Lester, Tinicum Township, across Delaware County to two buildings the energy company has purchased at the Ellis Preserve development in Newtown Square.
Sunoco will move 340 senior management and marketing workers to Newtown Square from Lester as it renovates the Ellis buildings over the next two years.
An additional 120 legal, accounting, and other administrative staff will move to Newtown Square from Mellon Bank Center, 1735 Market St., says spokesman Jeff Shields.
The Ellis property is just north of SAP Americas' headquarters and once was home to an arm of past Sunoco rival Atlantic Richfield Co. (now part of LyondellBasell Industries).
It is managed by Equus Capital Partners, which plans to develop more projects there.
Sunoco Logistics headquarters will remain at 1818 Market St.
Bank no more
Citibank is closing down the last parts of the Philadelphia-area branch-banking business it spent tens of millions of dollars building in the mid-2000s, a year after shutting nine suburban offices.
The New York-based multinational is closing its remaining local branches - five in Center City and one each in Germantown, Northeast Philadelphia, Bala Cynwyd, Talleyville, Del., Cherry Hill, and Lawrenceville, N.J. - in the spring as it retrenches to markets where it is more dominant.
Citi claims more than $2 billion in Philadelphia- area deposits, but its branch network here trails far behind Wells Fargo, TD, PNC, Citizens, and Santander.
Citi still plans to go after local municipal- bond deals, loans, investments, and Philadelphia School District accounts, spokesman Andrew Brent told me.
Citi's credit-card and tax-shelter offices near Wilmington and its investment offices will stay open.
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