Northwest mutual 2 n. cascade

Financial giant Northwestern Mutual plans to hire an additional 60 people for its Colorado Springs office and add two satellite offices during the next five years to serve the growing metro area’s growing population, a company official said.

The hiring will include financial advisers paid on commissions as well as administrative and other support personnel, said Kevin Kaveney, Northwestern Mutual’s managing partner in the Springs.

The expansion would upgrade the Springs operation to a “network” office that doesn’t rely on Denver’s larger office for administrative and other support.

Kaveney said the company has had a presence in Colorado Springs for 150 years.

“At a time when many other financial companies are consolidating operations to Denver or other larger cities, we are instead expanding the size and scope of our office in Colorado Springs,” Kaveney said.

“This move says a lot about our market and its potential. It recognizes the track record we have of performance and adding talent.”

Northwestern Mutual has hired four people in the past three months in anticipation of the Colorado Springs expansion, Kaveney said.

The first of two satellite offices is expected to open in May in northern Colorado Springs and will employ about 20 people, he said. The second satellite office will follow in 2020 with the size and location yet to be determined.

The Colorado Springs office, in the downtown FirstBank building at 2 N. Cascade Ave., employs about 80 people to manage about $650 million in assets for clients.

Kaveney hopes to grow its management portfolio to $1 billion as it hires the additional staff.

Nationwide, the Milwaukee-based company employs 5,600 people to manage assets valued at $265 billion.

Contact Wayne Heilman 636-0234 Facebook www.facebook.com/wayne.heilman

Contact Wayne Heilman 636-0234

Facebook www.facebook.com/wayne.heilman

Twitter twitter.com/wayneheilman

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Business Writer

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