John Hancock Investments plans to expand to Tempe in the fourth quarter of 2016 with an initial staff of about 60.
The Tempe office will be the third location for the Boston-based investment company.
John Hancock Investments had $83.7 billion of assets under management at the end of March, a record for the firm, and the first quarter marked the 18th consecutive quarter of positive net inflows.
“This expansion has been a long time coming,” said Andrew Arnott, John Hancock Investments president and CEO. “Our significant growth over the past decade created a need to increase our sales and service support staff, and there were multiple benefits to doing so through a new location in Tempe.”
The Tempe location will allow the company to provide better support for financial advisors and distribution partners in the Pacific and Mountain time zones and a means to accommodate a larger staff to support growing product lines, including the firm’s new exchange-traded fund business.
The company also believes the new foothold will help it recruit from an underserved talent pool.
“The Phoenix area is home to a number of colleges and universities, as well as notable employers in the financial services, technology, healthcare, and other fields,” Arnott said. “Together, these institutions could represent a valuable source of talent in the future as we continue to grow our operations.”
John Hancock has been in business since 1862.
