Local/State

Sunoco moving to Newtown Square, Citibank moving out of Philadelphia

Tuesday, December 17, 2013

A busy day in business saw one company announcing it is moving out of its Philadelphia headquarters, while another is just moving out.

Sunoco officials confirm to Action News they will consolidate operations and move to a Newtown Square facility in early 2016.

The new location will be on Route 3 and 252 in Newtown Square on the site of the Ellis Preserve.

About 120 employees from Philadelphia and 340 from Tinicum Township, Delaware County will move into the office.

Sunoco Inc. officials say the consolidation reaffirms the company's commitment to the area.

Meanwhile, Citibank is moving completely away from the Philadelphia area.

Citigroup, the parent company of Citibank, announced Tuesday it is closing the 10 remaining branches in the region next year.

The locations includes 7 in Philadelphia, as well as branches in Bala Cynwyd, Pennsylvania, Wilmington, Delaware and Cherry Hill, New Jersey.

Statement from CitiBank:

"We continually seek ways to optimize our branch network, which includes opening, renovating and, where appropriate, closing branches. After a thorough review, we have decided to close a select number of branches in early 2014, including those in Philadelphia.

Philadelphia remains an important market for Citi. We maintain several key businesses including municipal finance, equities, Commercial Banking and Private Banking, and provide financial services for some of Philadelphia's largest employers, middle market businesses, local affordable housing developments, and the Philadelphia School District. We are intent on continuing the expansion of these and other lines of business. We are also very committed to continuing our support of important community development initiatives, such as neighborhood economic development projects, programs designed to help low-income public students enroll in college, and mortgage foreclosure prevention assistance."

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philadelphia news, sunoco, citigroup, local/state
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