Hudson Bay Finance Company secures $1.3 million state grant to create 40 jobs in Greenwich

GREENWICH — Asset management firm Hudson Bay Capital plans to expand into the city by hiring 40 additional staff, backed by a state grant of up to $1.31 million, city officials said Thursday. business and the state.

The expansion solidifies Southwest Connecticut’s status as a major hub for financial services companies. Hudson Bay expects its downtown Greenwich office at 28 Havemeyer Place to employ nearly 50 professionals as new positions are filled, according to the announcement.

“As we continue to strategically grow our business, attract top talent, and provide best-in-class solutions to our global customer base, it became clear that Connecticut was the perfect location for expansion, given the its infrastructure, its proximity to metropolitan areas and its commitment to business,” said Sander Gerber, managing director and chief investment officer of Hudson’s Bay, in a statement. (Ned) Lamont’s job creation mission resonates with ours and we look forward to welcoming new intellectually curious and team-oriented people to our Greenwich office.

The state Department of Economic and Community Development grant is contingent on Hudson Bay creating and maintaining 40 new full-time jobs. It would be disbursed over seven years as employment targets are met. The company could earn less than $1.31 million if it creates fewer than 40 positions.

Founded in 2006 and employing more than 120 people in total, Hudson Bay also has offices in midtown Manhattan, Miami and London.

Hudson Bay is the second company in the past year to secure state funding to support hiring in Greenwich. Last September, fintech company iCapital Network opened a downtown office at 2 Greenwich Plaza to complement its Manhattan headquarters. He can earn up to $2.94 million in state grants if he creates 200 full-time jobs.

“Hudson Bay Capital is an international company with offices around the world, and I am pleased that, as their business continues to grow, they have chosen Connecticut as the location where they will create these new jobs,” Lamont said in a statement. communicated. “Business confidence continues to grow in Connecticut, and we are building on that momentum by continuing to exercise fiscal discipline and make the strategic investments needed to attract new jobs. I look forward to seeing the continued growth of Hudson Bay Capital in Connecticut.

Over the past year, Lamont’s administration has announced deals to provide seven-figure grants based on job creation to other companies, including cryptocurrency and blockchain conglomerate Digital Currency. Group and real estate-focused fintech company Tomo Networks and technology services maker and provider. ITT. Tomo opened its main offices in the South End of Stamford; ITT plans to open its new headquarters next month, coincidentally next to Tomo; and DCG plans to open its headquarters in the Shippan section of Stamford later this year.

Tobacco giant Philip Morris International, which plans to open a new headquarters in downtown Stamford later this year after relocating from Manhattan, receives no state subsidies.

DCG, ITT, PMI and Tomo plan to create several hundred jobs in Stamford over the next few years.

“Growth-oriented businesses see huge opportunities in Connecticut,” said David Lehman, commissioner of the Department of Economic and Community Development, and Peter Denious, president and CEO of the nonprofit organization AdvanceCT. , in a joint statement. “When we speak with CEOs and site consultants, we consistently hear that Connecticut’s skilled workforce and strategic location are among the top reasons companies choose to invest, innovate and grow here. It’s great to see Hudson Bay Capital among the growing list of financial services and fintech companies expanding their operations in our state.; twitter: @paulschott

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