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New tenant in The Bridge at Cornell Tech: Citigroup Inc.

Photograph of The Bridge at Cornell Tech

Citigroup’s new venture

A new financial venture is coming to Cornell’s The Bridge. Citigroup Inc. is opening a an office on Roosevelt Island, hoping to recruit young engineers and to increase innovation. The deal was brokered by a team of CBRE Group Inc.

The Bridge is a space on campus where engineers and entrepreneurs will be able to work, and the bank has leased almost 11,000 square feet there. This amounts to more than 1,000 meters, if you were wondering. CItigroup will take over during the first quarter of next year, and at least 80 employees will be based there.

A two-way benefit

This sort of merger it is important for both, the students and the companies based in The Bridge. The relationships created there will foster innovation and further enable interaction among emerging talents. Don Callahan, the head of operations and technology for Citigroup said this “will create an energized environment”.

Among other things, Citigroup has concrete expectations. The company wants to collaborate with students and faculty on emerging technologies like cyber security, blockchain and biometric authentication.

This move is on par with current tendencies. Financial firms are trying to stay on the top of the game by setting up camp on university campuses. Back in 2007, London hedge fund Man Group Plc. set up a research center at Oxford University. This site was revamped last August and they are focusing on artificial intelligence, among several other projects. Stateside, Two Sigma, another company based in NYC, will also set up new premises on Cornell’s The Bridge. This firm specializes in computer-driven investments. [Cornell Chronicle]