One of Seattle’s tallest skyscrapers has a new name that reflects JPMorganChase’s growing banking and technology hub in Seattle.
Formerly known as the Russell Investments Center, the building at 1301 Second Ave. is now the JPMorganChase Center.
The renaming coincides with JPMorganChase adding an additional 40,000 square feet at the 42-floor tower, which also houses Zillow Group and Perkins Coie.
The financial services giant, which now occupies 128,000 square feet, is also relocating its Seattle Tech Center from 1201 Third Ave. to the newly expanded space.
JPMorganChase has 850 employees in Seattle, including 400 tech workers — that’s up slightly from 380 people last year.
The company’s Seattle Tech Center opened in 2018, in part to tap into the region’s talent pool. The center focuses on areas including cybersecurity, cloud technologies, artificial intelligence, and machine learning. It’s led by Mamtha Banerjee, a computer scientist, business leader, and Seattle startup veteran.
JPMorganChase implemented a five-day in-office policy last year. It has more than 2,220 employees across 150 branches and corporate offices in Washington state. There are about 320,000 employees globally. The company recently opened a new headquarters in Manhattan.
The company also on Wednesday anounced $1.5 million in grants to five Seattle-area nonprofits: Business Impact NW, Friends of Little Saigon, Rainier Valley Community Development Fund, Seattle University’s RAMP-up, and the Capitol Hill EcoDistrict program of the Urban League of Metropolitan Seattle.
The office expansion comes as downtown Seattle hit another record high for vacancy rate last year at 34.7% in Q4, as hybrid work continues to weigh on the commercial real estate market.
Zillow once filled several floors of the JPMorganChase Center but scaled down after committing to remote work during the pandemic. More than 70% of the Zillow’s workforce is made up of remote employees.
Russell Investments moved its Seattle headquarters last year from 1301 Second Ave. to nearby Rainier Square.
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