BOSTON, Mass. and LEXINGTON, Ky. (Sept. 12, 2012) – Bingham McCutchen LLP announced today that it plans to open a shared-services center in Lexington in the spring of 2013 as part of a transformation initiative to enhance the performance of its administrative operations.
“The Global Services Center will position us to operate even more efficiently in an ever-changing, highly competitive economy,” said Chairman Jay Zimmerman, adding that while the focus of the effort is on centralizing U.S. administrative operations, its scope is international. “After 15 years of significant growth by combinations, we are consolidating our operations model to more efficiently support our lawyers around the world and, in turn, provide better service to our national and global client base. For Bingham, Lexington is an excellent fit. I am impressed by the vitality of the city, the warmth of the people and the business-friendly environment.”
The center will eventually house approximately 250 employees, who will be relocating from existing Bingham offices or hired from the Lexington area. Subject to final approvals of pending state and local economic development incentives, the Bingham Global Services Center will be located in office space in the University of Kentucky’s Coldstream Research Campus business park.
Bingham has committed $22.5 million in establishing the center over a period of time. The investment includes building improvements, startup costs and rent for 10 years. It will bring together in one location administrative support staff positions from a spectrum of professional disciplines, including: finance and accounting, human resources, information technology, knowledge services, marketing, operations, and risk management. Bingham has approximately 1,000 lawyers and more than 900 staff in 14 major offices in the U.S., Europe and Asia.
After a comprehensive and thorough review, Bingham selected Lexington because of its access to a deep and dynamic workforce, a developed academic community, and a vibrant quality of life, among many other factors, said Bingham Chief Operating Officer L. Tracee Whitley.
“As with any significant business decision, we carefully reviewed the strategic and economic fundamentals of this project,” said Whitley. “The Commonwealth of Kentucky and the City of Lexington joined forces to offer us the most competitive incentives package of the metropolitan areas we considered. It will, upon approval, enable us to get up and running quickly in Kentucky. In addition to the strong business opportunity presented, we found in Lexington an inviting community and a shared sense of values, which we believe our people will embrace.” She added that “the vast majority of our employees who are affected by this decision will be offered the opportunity to relocate, and we sincerely hope that many of them will choose to do so.”
Noting Bingham’s reputation and today’s competitive economic business climate, officials welcomed the firm’s decision to open its services center in Kentucky.
“Bingham is a highly successful global firm, and we couldn’t be more excited about their decision to come to Kentucky,” said Kentucky Governor Steve Beshear. “The choice to locate here says a lot about our business-friendly climate, ideal location and valuable workforce. We look forward to a continued and flourishing partnership with Bingham.”
Lexington Mayor Jim Gray noted that “in the past few years Lexington has earned praise in national magazines that have given us high rankings for livability, education and great people. We’re attracting firms like Bingham that can locate anywhere in the country, and they chose Lexington. This decision reflects the kind of results we can expect more of.”
Bingham’s selection of Lexington also underscores the level of collaboration between the firm, the business community and the government, said Bob Quick, Commerce Lexington Inc. President and CEO.
“This project, which falls within one of Lexington’s strategic industry targets for economic development, is a true testament to the collaborative effort of our partners, including Commerce Lexington Inc., Lexington-Fayette Urban County Government, and the University of Kentucky, as well as the Kentucky Cabinet for Economic Development,” said Quick. “Bingham McCutchen will be a great addition to our region, and we look forward to making their relocation here as smooth as possible.”
Bingham’s Whitley echoed those sentiments. “We look forward to being part of the Lexington community,” she said. “Based on our experience with local and state officials, as well as business and academic leaders there, we are confident that Lexington will be a great fit for Bingham.”
The transition of Bingham’s administrative functions to its new center in Lexington is anticipated to begin in April 2013 and continue through the spring of 2014. Bingham is working with Deloitte Consulting in the planning, design and implementation of its new global services center and related operational initiatives.
Bingham, www.bingham.com, focuses on financial services firms and Fortune 100 companies, operating on an interconnected platform aligned to address a wide range of legal issues worldwide.
Additional Media Contacts:
Kentucky Cabinet for Economic Development
Mandy Lambert, Executive Director, Office of Research and Public Affairs
Lexington-Fayette Urban County Government (Mayor’s Office)
Susan Straub, Director of Communications
Commerce Lexington Inc.
Gina Greathouse, Senior Vice President, Economic Development