Why NC? The Deutsche Bank story in North Carolina & its Cary campus

Why NC? The Deutsche Bank story in North Carolina & its Cary campus

Editor’s Note: This is the first in a new series on economic development in North Carolina called “Why NC?” The series is a collaborative effort of the NC TECH Association and Racepoint Global in partnership with WRAL TechWire.

Why NC? Deutsche Bank

Founded in 1870, Deutsche Bank is a leading European bank with a global reach. Having first established a presence in the Americas in the 19th century, the bank began operating independently in the US in 1978, opening its first US branch in New York City. In October 2001, Deutsche Bank was the first German bank to be listed on the NYSE and one of the largest foreign employers in New York City. In 2009, Deutsche Bank launched its US Technology Center in Cary. Why NC?

NCTECH/Racepoint Global Image

we asked Eban Scanlan, Head of CIO Risk, Finance and Treasury Americas, Head of Cary Technology Canter (DB Global Technology Inc.) this same question and more:

  • Why did you open an office in NC?

North Carolina consistently ranks as one of the top geographic areas to live, work and play. Deutsche Bank’s location in Cary, NC was established as part of a global network of technology centers and designated as a US Technology Center. Cary offers an easy commute to Deutsche Bank’s headquarters for the Americas in New York City and its operations center in Jacksonville, Florida. Proximity to universities with strong technology credentials to support recruitment and a desirable quality of life for individuals and families made Cary a good choice. The seasonal climate, strong elementary school system, cultural attractions and natural beauty of the area make it a place where people want to be.

  • Why is NC a great place to do business?

North Carolina has a rich talent pool of candidates with diverse experience, along with a network of world-class universities. The concentration of competitive companies in the region improves the ability to learn and share knowledge.

Proximity to major banking partners in the area, including Microsoft, Red Hat, SAS, Google and HCL, provides additional benefits and network effects.

Opportunities to connect with the community are equally valuable. Deutsche Bank colleagues are eager to participate in various tech meetups, hackathons and STEM initiatives in area schools where they can support continuous learning for themselves, their colleagues and students.

  • What makes you attractive to potential clients + talent?

The Cary Technology Center has a strong, hands-on engineering culture focused on continuous learning, so the bank offers not only formal training, but also employee-led training that encourages knowledge sharing, skill development techniques and networking.

Deutsche Bank emphasizes recognition and promotion, offering internal mobility and flexible working arrangements. The workforce reflects diversity of gender, experience and culture bringing a wealth of experience and perspective to the software development process.

  • Have you had to change anything given the current hiring climate?

Deutsche Bank recognizes the need to recruit skilled talent to the bank efficiently. We now work collaboratively across ~6 different groups in the Chief Information Office with a team of hiring managers and recruiters who screen candidates for the many opportunities in the Cary domain. So instead of each group running their own candidate sourcing, resume screening, candidate interviewing, feedback and bidding process, there is now a standard, consistent process. This has reduced the time to offer 60% of the rental plan.

  • What sets your business apart from others in this space?

Deutsche Bank’s Cary location is a dedicated technology center focused exclusively on application development that supports global client systems. As a global company, the work is unique in North Carolina driving innovation around Cloud, Data, AI/ML applications that use cutting edge technology compared to peers.

  • Where do you see your company in 5 years?

Deutsche Bank will continue to evolve and grow the US Technology Center, anticipating a workforce of more than 1,000 people that will continue to provide technology solutions, especially to explore and optimize technology and innovation such as cloud, AI/ML. In addition to a focus on expanding junior talent, senior executives and portfolio owners will work directly from North Carolina, driving and leading some of the bank’s most critical technology initiatives. Supporting ESG will also be an important focus for the bank given the continued prioritization of the environment and sustainability.

Fact table:

Deutsche Bank

Company headquarters: Frankfurt, Germany

NC Office/Established: Cary NC, opened in 2009

Number of NC employees: 585

Total global employees 82,969 *Deutsche Bank HR Report 2021

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