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Itasca-based First Midwest moving HQ, 300 workers to Chicago
The parent of First Midwest Bank is moving its corporate headquarters from northwest suburban Itasca to the Northwest Side of Chicago.
First Midwest Bancorp will relocate its headquarters to Triangle Plaza, 8750 W. Bryn Mawr Ave., by the spring of 2018, the company announced today. The 80,000-square-foot space in an existing building will house more than 300 employees, including commercial banking teams.
The move to a more central location came because the bank needs more space, spokesman Jim Roolf said. “It was because of access into downtown and into the suburbs, north, west and south,” he said. “That's where our footprint is.”
Once it moves, First Midwest will join locally based commercial banking competitors MB Financial and Wintrust Financial with headquarters near O'Hare Airport. The other main locally based commercial bank, PrivateBancorp, has headquarters in downtown Chicago.
Article:
http://www.chicagobusiness.com/artic...ers-to-chicago
Recycling of local capital and talent
Thinkorswim co-founders launch new firm
Thinkorswim and Dough co-founder Tom Sosnoff is once again starting up his own Chicago retail brokerage after splitting with partner TD Ameritrade.
Dough, an online and mobile platform for do-it-yourself investors which does business as Tastytrade, said in a statement today it has created a new Chicago-based broker called Tastyworks.
Tastyworks will incorporate Tastytrade's digital talk-show and other content. Sosnoff and other backers of Dough, including the venture capital firm Lightbank led by Brad Keywell and Eric Lefkofsky, launched Tastyworks today, saying the broker's Tastytrade content and pricing set it apart from a slew of rivals.
"We're letting content lead us to the next level," Sosnoff said in an interview. "When you're trading on our platform, you can also watch the show," he said.
Sosnoff decided to embark on the new venture independent of Omaha,Neb.-based TD Ameritrade after they were unable to reach agreement on a monetary terms to continue their partnership for the next ten years, he said. Their former alliance followed TD Ameritrade's purchase of Thinkorswim in 2009 for $606 million. He's leading the new firm with Thinkorswim co-founder Scott Sheridan, who is now the CEO of Tastyworks, and with Dough Co-CEO Kristi Ross. They and other employees own a majority of Dough, the parent to Tastyworks.
Article:
http://www.chicagobusiness.com/artic...aunch-new-firm
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