Mayor Michael A. Nutter announced today that Aberdeen Asset Management Inc., a subsidiary of one of the world’s largest investment firms, is expanding its presence in Philadelphia, doubling the number of employees housed at its U.S. Headquarters in Center City.

“This is great news for Philadelphia,” said Mayor Nutter. “This is a terrific opportunity for the City to share in the continued growth and success of one of Philadelphia’s leading global financial businesses. Despite the financial difficulties that are being experienced by cities all across America, Philadelphia continues to be a place where businesses are looking to locate and expand.”

Aberdeen currently houses 123 full-time personnel in its Philadelphia office at the Mellon Bank Center. With this expansion the firm is adding 69 full-time employees from its Conshohocken office and it will hire an additional 60 full-time employees over the next three years, essentially doubling its Philadelphia workforce to 252 full-time employees.

The Philadelphia Industrial Development Corporation (PIDC) supported Aberdeen Asset Management’s expansion project through economic development assistance programs available to growing businesses in Philadelphia.

The Philadelphia Industrial Development Corporation (PIDC), is a private, not-for-profit corporation created in 1958 by the Greater Philadelphia Chamber of Commerce and the Commerce Department of the City of Philadelphia to promote economic development and job creation throughout the City.  PIDC provides financing programs and real estate products to business and developer client groups in all neighborhoods of Philadelphia.

For further information on PIDC contact Peter S. Longstreth, President, Philadelphia Industrial Development Corporation, 2600 Centre Square West, 1500 Market St., Philadelphia, PA 19102-2126, phone (215) 496-8181.