 |
SALLIE MAE TO MOVE RESTON HQ TO DELAWARE SLM Corporation, commonly known as Sallie Mae, announced this month that it will relocate its corporate headquarters near Newark, Del., by March 31, 2011. The relocation to Delaware is consistent with other strategic initiatives the company is taking to align its cost structure with its continuing businesses following the passage of the Health Care and Education Reconciliation Act. According to The News Journal, the move could create more than 1,500 jobs over a five-year period. In a press conference, Sallie Mae noted that most of those jobs will be hired in Delaware. The company already has started accepting applications on its website. “This decision reflects our need to adapt to the massive changes in our business. We have enjoyed nearly 40 years in the D.C. area; however, the objective is to combine the senior management team in a single location. Delaware officials helped make these changes as efficient as possible,” said Albert L. Lord, CEO. Sallie Mae opened a facility in Newark, Del., in November 2008 that focuses on the company's private student loan business, including credit underwriting, collection, customer service, compliance, business development, and its new retail deposit business. Sallie Mae headquarters moved to Reston, Va., from Washington, D.C., in 1996. |
|
