Deutsche Bank expansion could be game changer for Jacksonville

[BennyKrik]

A group of young associates from DB walks into Birdies in 5pts, wearing shirts and pressed pants.
and the whole place goes silent.

Two groups had nothing in common.

[dp8541]

A group of young associates from DB walks into Birdies in 5pts, wearing shirts and pressed pants.
and the whole place goes silent.

Two groups had nothing in common.

Or, a group of young associates from DM walks into Blacksheep, Aardwolf, Volstead, Dos Gatos, Grape and Grain Parlour, etc. and no one even notices.

[BennyKrik]

I can see your feelings are hurt. You're defending the honor of local joints.

Blackfinn at the towncenter is where it's at....

[Tacachale]

Cool story.

[dp8541]

Not defending anyone, just pointing out there are plenty of downtown joints that young associates can and do frequent

[johnnyliar]

Yea, not sure what BennyKirk's point was there. Professional people can't live in the DT R/A area?

[BennyKrik]

Johnny, what I said were facts. They are first hand accounts. I was there when it happened.

Is that your picture or the next of kin?
How long before my newbie status changes

[simms3]

I could guess that everyone is correct.  Personal acquaintance sample sizes are not enough to go by.  I could also imagine that NE transplants who are young and new to Jax wouldn't feel "at home" in the urban core, which does lean "local".  SS/beaches has more transplants and "people like them".  Pretty difficult to find a "collegiate" crowd in Jax to begin with, let alone in the local-southern-hipstery scenes that do kind of define the inner core areas.  When I do visit, I can attest whole heartedly that there are no scenes in the urban core, where I grew up and where most of my Jax friends are, that are like the social scenes in New York or SF that are sort of finance oriented.  Maybe with BAML/DB and other major corporate offices on the SS, there is a small scene at places like Blackfinn...

Also, I could totally imagine (and relate based on my own past experience) that some of the younger analysts/associates are keeping their noses in their computer screens and sacrificing social life in order to get transferred out of Jax to one of DB's main offices in either NYC or SF, which in their minds is probably more prestigious, and if they are Ivy Leaguers, that's where all of their friends already are while they're stuck in Jax.  It's just the nature of it.  Doesn't mean everyone at DB fits this bill or that everyone at DB who fits this bill is this way...

[Andy]

It seems obvious to me that even if there are some employees unwilling to move with DB, there are PLENTY of others who don't care enough to quit, and plenty of potential new employees there to pick up the slack. I doubt it will be some sort of epidemic that DB will have nobody there to take those jobs. At least not because their employees prefer the beach SO MUCH. People will fill those positions, and they will find places to hang out. Just like anywhere.

[Downtown Osprey]

BlackFinn is definitely not "where its at". But that's just me.

[CityLife]

It seems obvious to me that even if there are some employees unwilling to move with DB, there are PLENTY of others who don't care enough to quit, and plenty of potential new employees there to pick up the slack. I doubt it will be some sort of epidemic that DB will have nobody there to take those jobs. At least not because their employees prefer the beach SO MUCH. People will fill those positions, and they will find places to hang out. Just like anywhere.

We're not talking about some recent college grads that just joined the company...It's long time employees with significant leadership roles, skillsets that aren't easily replaced, and have institutional knowledge.

BlackFinn is definitely not "where its at". But that's just me.

You're not the only one...

[Andy]

I really doubt that many people who have been with a company that long will be willing to quit because the company moved a half hour or so away. A few of them, sure. But most of that institutional knowledge would likely make the move or commute.

EDIT: grammar.

[simms3]

The other thing to consider is that many many workers in large cities have 1+ hour commutes each way.  Most people in my firm's corporate HQ in CT commute from the city.  Plenty keep CT apartments and maintain primary residence there for tax/commuting reasons, living in the city on weekends, but plenty make the commute each day, there and back.

In the Bay Area, probably close to half the people I know have 1-2 hour commutes each way, if they live in the city and work elsewhere in the Bay Area, or live elsewhere in the Bay Area and work in the city.

Jax is probably 200 years away before this commute pattern that is just that excruciating is a commonplace problem.  Isn't a commute in from the beach to downtown like 30-45 minutes with traffic?  I mean that's a solid 20-30 miles away, which could be 1.5+ hours of driving in other cities where DB has major offices (NYC, SF, Boston, LA), and traffic adds what 5-15 minutes max on average depending?

The only people who might balk at that are employees DB picked up from FL who have never lived in a big, heavily congested city.

[Wacca Pilatka]

The only people who might balk at that are employees DB picked up from FL who have never lived in a big, heavily congested city.

I lived 20+ years in a big, heavily congested city (Washington) and very much enjoy living in a lower-congestion area with a more relaxed commute (Tidewater Virginia).  There are reasons for balking at a lengthy commute beyond mere ignorance of life in congested cities.

From past articles on DB in Jacksonville, I suspect it has a fair number of employees who were formerly situated in some larger and more congested metros, who voluntarily relocated seeking a more relaxed lifestyle.

You're correct about the length of the commute.  No, it's not terribly excessive, but I can understand why some people would resist that if they were specifically seeking a short commute and a beach-centered lifestyle as reasons for relocating to Jacksonville. 

Don't get me wrong; I wish DB were consolidating its offices in the urban core.

[CityLife]

I really doubt that many people who have been with a company that long will be willing to quit because the company moved a half hour or so away. A few of them, sure. But most of that institutional knowledge would likely make the move or commute.

EDIT: grammar.

Many DB employees, including local leadership have apparently made it known that they want to remain on the Southside. Would they quit their jobs over the move? Doubtful. Would there be widespread discontent from the local workforce? Apparently. Would some of the upset workers take the next relocation opportunity? Quite likely.

I think Wacca hit the nail on the head. The DB employees that are most entrenched on the Southside are actually their big city transplants, who moved here for the beach/golf lifestyle. I've heard this first hand from a local DB VP that moved from NY.