Phoenix Financial has been looking for a new home to expand its financial services portfolio in Melbourne.
The Melbourne-based financial services company said it is looking for an apartment, office space and a location to open a branch in Melbourne’s CBD.
It is hoping to attract the workforce of more than 1,000 employees in the CBD, with the move to Melbourne expected to bring about 1,400 new jobs.
The Phoenix Finance company has been seeking a new Australian headquarters since it was acquired by the Australian Government in July 2017.
Phoenix Financial is looking at relocating its Melbourne branch to Melbourne’s east side, which would provide it with a new location, according to its announcement today.
Phoenix Finance said it was “encouraged by the support of the City of Melbourne and the Government to accelerate our expansion in Melbourne, which will provide additional jobs, growth and innovation in the financial services sector”.
“We are confident that this new location will support the continued growth of our existing Melbourne branch and will ensure that Phoenix Financial remains a highly competitive, reliable and innovative business,” it said.
The announcement was made at a news conference in Melbourne City Hall today.
Phoenix Financial said it had a team of about 150 people working at its Melbourne office, which it said is located on the east side of Melbourne’s city centre.
Phoenix said it would expand its services in the city centre and expand its existing business.
Phoenix’s CEO and chief executive officer, Tom Furlong, said the move would help the company become more efficient, while attracting staff.
“We will be able to attract a large amount of talent, with a high quality of workforce and the right opportunity to grow,” he said.
Phoenix has more than 3,200 employees and operates across Australia and New Zealand.
It employs more than 70 people in Melbourne and has plans to open another office in Melbourne later this year.
Phoenix employs more people than Royal Bank of Australia, which is the world’s largest financial services provider.
Furlong said Phoenix had always planned to move to the CBD because it was in a great location and a great community.
Phoenix is one of Australia’s largest mortgage lenders and is Australia’s third largest lender by assets behind BNP Paribas and Royal Bank.
Read more:Phoenix CEO says move would boost the company’s bottom line by $1.5 billion a yearPhoenix Finance has about $2.5 million in assets, with more than $2 billion in loans and credit line in its portfolio, it said in its announcement.
Phoenix also said it planned to invest $300 million in the construction of a new financial centre in Melbourne to provide staff with an office, more space and access to the city’s CBD for its clients.
In 2018, Phoenix Financial announced it was expanding its Melbourne operations and hiring more than 400 new staff.
Phoenix CEO Tom Fplong said the expansion would provide Phoenix with more revenue and more employees, with up to 150 additional jobs and more than 200 permanent staff.