A major Japanese bank, SMBC Group, is making Charlotte its second U.S. headquarters, and has committed to add 2,000 high-paying financial services jobs from 2028 through 2032, bank and N.C. officials said Tuesday.
This involves a $50.5 million promised investment by the end of 2027, they said. The positions will include a mix of executive, middle management, associate and analyst roles. The new jobs will pay an average of $165,316.
SMBC Group offers a diverse range of financial services, including banking, leasing and security. It already has an office in Charlotte at 500 E. Morehead St. in uptown.
SMBC said it had also considered Jacksonville, Florida, for the project. The bank’s current U.S. headquarters is in New York City.
“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.
North Carolina Gov. Josh Stein, left, presents Hiro Otsuka, Chief Executive Officer, SMBC Americas, with a gift following the announcement that the Japanese bank will be making Charlotte its second U.S. headquarters on Tuesday, April 7, 2026. In addition to the second headquarters, the bank has committed to add 2,000 high-paying financial services jobs from 2028 through 2032. JEFF SINER [email protected]
Otsuka added that the bank expects to turn to the deep talent pool in the region as it begins to hire for jobs in Charlotte.
SMBC plans to hire about 1,800 people locally with the remainder relocating to Charlotte. That number is in addition to the 160 full-time SMBC employees who currently work at its regional Charlotte office.
The expanded, new headquarters office will be in a different location in uptown Charlotte than the current office, a company official said.
Charlotte anc NC leaders praise SMBC move
Gov. Josh Stein came to Charlotte and spoke in the uptown lobby of the Carolina Theatre to make the jobs announcement official. He said he had met with SMBC leaders 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,” Stein said.
Stein presented Otsuka with a gift handmade by Seagrove potter Ben Owen with the state seal.
“Your visit reinforced our strong partnership between North Carolina and Japan,” Otsuka said. Japan is the largest foreign investor in the U.S. with more than 220 companies in North Carolina, he added.
This is one of the largest jobs announcements in Mecklenburg County this decade, and of the largest ever for the city, local leaders said. And the move further reinforces Charlotte’s longstanding banking bona fides.
”Your presence here speaks volumes about our community,” Charlotte Mayor Vi Lyles said to SMBC and Otsuka. “This investment further reinforces our reputation as a destination for forward-thinking organizations and world-class talent.”
In the packed lobby of the 99-year-old renovated Carolina Theatre, Lyles said, “It is only fitting that we make this announcement in a place that both reflects where we’ve been and where we’re going.”
Hiro Otsuka, Chief Executive Officer, SMBC Americas speaks during the announcement that the Japanese bank will be making Charlotte its second U.S. headquarters. JEFF SINER [email protected]
Expanding ‘Bank Town’ in Charlotte
Long known as “Bank Town,” Charlotte is home to both Bank of America and Truist, as well as San Francisco-based Wells Fargo’s largest employment hub. A number of other major banks and fintechs have a significant presence in the city, too.
Leigh Altman, vice chairwoman of Mecklenburg County Board of Commissioners, said the bank’s expansion means more opportunity for local residents and businesses. “This project impacts our community’s quality of life,” she said. “We are a rising international financial hub connected to markets, talent and ideas that span the globe.”
A major Japanese bank, SMBC Group, is making Charlotte its newest global hub. It will bring 2,000 high-paying positions here from 2028 through 2032. Seen here in a file photo, a woman walks in front of a signboard of SMBC in Tokyo. KAZUHIRO NOGI AFP via Getty Images
SMBC incentives deal for big Charlotte jobs project
The bank is in line to get a hefty incentives package.
The state’s Job Development Investment Grant program could benefit SMBC up to $70.3 million in payroll tax breaks over a 12-year period, if hiring and investment goals are reached. Charlotte and Mecklenburg County combined to offer $1.3 million in local incentives
The state also improved $4.4 million in job training through the community college system for the project
Under the terms of the JDIG, SMBC must retain 171 current employees in North Carolina, including 65 at its Charlotte project site
A view of the headquarters office building of Japan’s Sumitomo Mitsui Banking Corp (SMBC) in Tokyo, seen in a file photo. The company is in line to receive state and local incentives as it expands to Charlotte with 2,000 jobs. KAZUHIRO NOGI AFP via Getty Images
Other recent jobs announcements in the Charlotte region
The Charlotte area has been riding high with jobs announcements of late. In March alone, four companies either pledged or expanded on plans to bring more than 2,500 new jobs in financial services, tech manufacturing and aviation.
That included Los Angeles-based investment manager Capital Group announcing 600 jobs and a $600 million investment for its expansion to uptown Charlotte. The minimum average salary will be $194,141, more than double Mecklenburg County’s average wage of $90,706.
And Citigroup opened a 90,000-square-foot office in Ballantyne. It plans to add 510 workers by the end of next year. The average annual salary for those jobs is expected to be at least $131,000.
North Carolina Governor Josh Stein speaks during the announcement that the Japanese bank SMBC Group will be making Charlotte its second U.S. headquarters on Tuesday, April 7, 2026. In addition to the second headquarters, the bank has committed to add 2,000 high-paying financial services jobs from 2028 through 2032. JEFF SINER [email protected]
About Japan’s SMBC Group
SMBC Group has more than 150 offices and 120,000 employees worldwide in nearly 40 countries. It is one of the three largest banking groups in Japan.
Its roots date back more than 400 years in Japan, and a century in the U.S.
When the company referred to its culture and values on its website, it said, “We are committed to the growth of our clients, the development of our people, and the advancement of society. We believe prosperity can be achieved without sacrificing honor and integrity.
“That’s why we promote a better and safer world for all.”
Business Editor Adam Bell contributed to this report
This story was originally published April 7, 2026 at 1:12 PM.
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Catherine Muccigrosso
The Charlotte Observer
Catherine Muccigrosso covers retail, banking and other business news for The Charlotte Observer. An award-winning journalist, she has worked for multiple newspapers in the Carolinas, Missouri and New York.
Brian Gordon
The News & Observer
Brian Gordon is the Business & Technology reporter for The News & Observer and The Herald-Sun. He writes about jobs, startups and big tech developments unique to the North Carolina Triangle. Brian previously worked as a senior statewide reporter for the USA Today Network. Please contact him via email, phone, or Signal at 919-861-1238.
