• SMBC plans to create 2,000 jobs as it establishes its second US headquarters in Charlotte
• The bank is targeting university students for its summer 2027 internship and analyst programs
• Technology, cybersecurity, data and operations are major recruitment priorities
• Around 80 employees have been hired since April with approximately 90 positions currently open
• SMBC faces fierce competition from major financial institutions operating in Charlotte
• The bank believes its rapid growth offers recruits opportunities unavailable at more established rivals

Sumitomo Mitsui Banking Corp. is ramping up recruitment in Charlotte as the Japanese banking group prepares to create 2,000 jobs at its second US headquarters – putting it in direct competition with some of America’s largest banks for talent.

SMBC recruiters are targeting university campuses around Charlotte as the lender begins searching for interns and analysts for summer 2027. The initiative forms part of a six-year expansion under which SMBC has committed to invest $50.5 million in the region.

The bank has operated in Charlotte since 2022 and currently employs around 300 people in the city. It is moving to new premises at 301 S. College St. in the Uptown district, which will eventually accommodate its expanded workforce.

Recruitment is particularly focused on technology, cybersecurity, data, operations and human resources.

Earlier this year, SMBC strengthened its technology leadership by appointing former Ally chief information security officer Donna Hart to the same position.

However, the bank faces substantial competition. More than 100,000 people work in financial services across the Charlotte region, with Bank of America and Truist headquartered there.

JPMorgan Chase and TD are among other major institutions pursuing expansion in the market.

“There is a lot of competition for good talent,” SMBC chief human resources officer Robin Milberg said.

SMBC is taking a phased approach to recruitment. Around 80 employees have been hired since April, while approximately 90 positions are currently open. Hiring is expected to accelerate in subsequent years.

“A big part of our strategy, of course, is we want to ensure that our business is sustainable,” Milberg said. “We want to make sure that we have the right talent in place in New York, and that we’re finding the right talent in Charlotte as well.”

Universities are becoming an important battleground. SMBC is developing relationships with institutions including the University of North Carolina at Charlotte, Davidson College and Wake Forest University, using internships to create a pipeline into permanent positions.

The bank hosted almost 150 interns this summer, with some subsequently accepting positions in Charlotte.

Milberg said competition means banks must enter the recruitment market earlier and offer attractive salaries, development opportunities and benefits.

“You have to be in the market earlier, you have to have a very competitive salary, you have to have even similar swag, to attract the best talent,” she said.

Charlotte hires are expected to earn an average salary of $165,686, according to the City of Charlotte.

SMBC believes its expansion could nevertheless give it an edge. Milberg said experienced candidates are attracted by the opportunity to help build a growing operation and “really put their own stamp on” the organization.

The hiring push comes as SMBC reshapes other parts of its US business. The group has wound down Jenius Bank, sold $2.6 billion in consumer deposits to Axos Financial and is offloading its commercial banking unit to Bank of Hope.

Those changes place even greater emphasis on Charlotte – and on SMBC’s ability to secure the people required to deliver its ambitious US expansion.