Financial tech company
Fiserv Inc. unveiled Monday its new downtown Milwaukee corporate headquarters that will eventually be home to hundreds of employees.
The company is leasing 168,000 square feet of space at the HUB640 at 640 N. Vel R. Phillips Ave. in downtown's Westown neighborhood.
"This location is superbly strategic for us," Fiserv chief financial officer
Frank Bisignano said, calling the space an investment in the company's employees and a destination for its clients and talent.
Fiserv is moving from its longtime headquarters in Brookfield.
"Brookfield has served us unbelievably well, we grew up in Brookfield, we built the company in Brookfield," Bisignano said. "But our ability now, from this location, to entertain clients will be unparalleled to anything we ever did in Wisconsin before."
The newly-remodeled space features a high-tech client experience center, a cafe brewing Colectivo Coffee and a dining area for breakfast and lunch. The office is designed with local touches including restored Cream City brick and artwork of the building's early use as a storage and shipping hub.
Fiserv noted that the new office was intentionally designed to promote a collaborative and digital-first experience for its employees and clients. It features collaborative workspaces, displayed art created by Fiserv employees' kids and a set of stadium stairs that connect the office's multiple floors.
The space includes more than 90 conference and huddle rooms, 80 collaborative work spaces and half a dozen break rooms, according to
Bob Hau, chief financial officer. Hau will be the highest-ranking company official based out of the Milwaukee office.
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The payments and financial technology company announced in October 2022 it would move around 500 employees from Brookfield to the new downtown office and hire another roughly 250 employees within five years.
The Milwaukee Common Council in December 2022 approved a plan to spend $7 million to help finance the building's $37 million redevelopment to accommodate Fiserv.
Fiserv must base at least 780 employees at HUB640 to obtain the full $7 million, and must keep its headquarters there for at least 16 years, according to a contract between the company and the city.
Fiserv expects to have 580 employees in its first year at the new headquarters, with that number rising to 780 by its fourth year. That includes 250 jobs that will be new to the Milwaukee area.
Also, the company is to receive up to $7 million in state tax credits in return for meeting annual job targets.
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