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BlackRock CFO Offers More Details On Its Atlanta 'iHub'

BlackRock's Manhattan headquarters building

BlackRock's upcoming Atlanta technology hub is part of the firm's larger strategy of emphasizing technology innovation throughout its multitrillion-dollar managed-asset empire.

That was the message from BlackRock Chief Financial Officer Gary Shedlin during the 2018 Goldman Sachs U.S. Financial Services Conference last week. In a question-and-answer session, Shedlin detailed part of the reason for opening what he called an “iHub” in Atlanta.

“So, we are continually thinking about trying to have the entire organization embrace technology. We like to talk about doing things better, faster, cheaper without giving up any of the risk and control of the organization that's obviously critical,” Shedlin said.

Bisnow previously reported that BlackRock tapped JLL to search for upward of 200K SF of offices, mainly in Midtown, for its new innovation center. Known as Project Sky in economic development circles, BlackRock is expected to garner $25M in tax breaks in exchange for creating 1,000 new jobs in Atlanta by 2024.

Shedlin offered few other details about the Atlanta plans during his speech, other than the iHub is one of three in the company: a 1,500-man operation in India and another 600-person hub in Budapest, which is expected to open later this month.