M&T tech hub could bring 1,000 jobs to Buffalo
Bank looking to ramp up digital presence with building of ‘innovation factory’ downtown
M&T Bank’s push to more rapidly develop and deploy technology will have a big payoff for Buffalo: More than 1,000 new employees who will be hired to work downtown.
M&T expects to fill the first 250 of those jobs this year and to complete the hiring of software engineers, web developers and other digital positions over the next five years. The bank will also add 200 technology-related jobs in Wilmington, Del.
René F. Jones, the bank’s chairman and CEO, revealed the hiring plans Tuesday at M&T’s annual shareholders meeting at its headquarters. The hiring wave fits with the bank’s ramped-up investment in technology and its plan to centralize where its tech employees work.
“We know where we want to go,” Jones said. “We know what we want to do. We can’t really predict the [hiring] pace. But we anticipate to dive in this year and start getting it done.”
M&T has not yet revealed where downtown it will establish its Buffalo tech hub. Jones said the bank is “getting close” to that decision but couldn’t specify how soon an announcement might come.
The Buffalo-based bank has more than 7,000 employees in Western New York. Adding 1,000 workers to that would increase M&T’s local workforce by about 15 percent. The project would give a boost to downtown by bringing more workers into the city, while also bolstering the region’s undersized technology sector.
M&T’s emphasis on technology investment has grown, with the addition of Michael Wisler a year ago as chief information officer, and the bank’s request for proposals last December for a tech hub location. M&T said it received more responses than it had anticipated from landlords and developers.
One of the landlords interested in the M&T expansion is Douglas Jemal, the owner of the vacant One Sen
“The idea behind the innovation hubs is that it’s easier to create new things when you sort of bring people with multiple disciplines together.” – René F. Jones, M&T CEO