Packages containing a prepaid Mastercard Inc. debit card from Green Dot Corp. and a Visa Inc. debit card (left) will be arranged for a photo on Thursday, February 15, 2018 in Washington, DC, the United States.
Andrew Harrer | Bloomberg | Getty Images
Another company is leaving California.
Green Dot, a fintech company and the largest US provider of prepaid debit cards, is moving its headquarters from Pasadena, California to Austin, Texas, CNBC has exclusively learned.
The move follows the departures of technology giants such as Oracle, Palantir and Hewlett-Packard Enterprise announced last year. Some companies, especially tech firms, have welcomed the move to remote working forced by the coronavirus pandemic, reducing the need to maintain large headquarters in expensive cities.
Green Dot will focus on four hubs – the new Texas headquarters as well as WeWork-style offices in Florida, Ohio and California – as it’s a permanent remote working model, CEO Dan Henry said in a Zoom interview.
“I want the best, brightest people we can find to join our team to be successful and you can live anywhere you want,” said Henry. “I’m not Jamie Dimon, I’m not going to force you to take the train three hours a day.”
Henry was referring to comments made this week by JPMorgan Chase CEO Jamie Dimon, who is calling his U.S. employees back to the offices this month and who has expressed frustration over conference calls.
The fintech firm will expire the lease for its 160,000-square-foot main building in Pasadena and plans to have its headquarters in Austin by the end of the year, said Henry, who took over at Green Dot last year.
However, the company will continue to have a presence in Pasadena as it expects many of its employees to stay there, he said. Green Dot has nearly 1,300 employees in the United States and China.
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