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Monday, July 28, 2014

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Cascade: No. 63, Fall 2006

Wachovia Moves Its Regional Headquarters to Trenton

Susanne Svizeny, regional president of Wachovia Bank’s central and southern New Jersey region, recalls that last year when Wachovia’s lease for its headquarters in Ewing Township was expiring, the bank began to explore opportunities to relocate to Trenton. After evaluating several options, Wachovia moved its headquarters to 32 East Front Street in downtown Trenton and signed a 10-year lease with the building’s owner, Matrix Development Group.

Wachovia Bank moved its regional headquarters from Ewing Township, N.J., to the top three floors of this building, owned by Matrix Development Group, at 32 East Front Street in Trenton, N.J. (Photo provided by Jim Gerberich)Wachovia Bank moved its regional headquarters from Ewing Township, N.J., to the top three floors of this building, owned by Matrix Development Group, at 32 East Front Street in Trenton, N.J. (Photo provided by Jim Gerberich)

Svizeny explained: “Wachovia selected Trenton because it is an important market for us. Economic factors did not lead to this move, as there were comparable alternatives in suburban areas. Wachovia selected Trenton because it was the right business decision and we wanted to be part of the economic revitalization efforts of the capital city.”

In the move, 125 Wachovia employees were relocated to Trenton. Svizeny noted that “Wachovia does not have a cafeteria in this building and the employees are going out to have lunch and support the local businesses.” The space that Wachovia is leasing provides the capacity to increase the number of its employees in the building to 160.