Monday, December 22, 2014

Mayor Welcomes Financial Firm To New City Headquarters

Mayor Nutter just had a little gathering in City Hall to welcome Penn Capital Management Company, a financial firm that is relocating from Cherry Hill in July to offices in the former Philadelphia Naval Yard. "Even in these current economic conditions, firms are still interested in what Philadelphia has to offer," Nutter said.

Mayor Welcomes Financial Firm To New City Headquarters

Mayor Nutter just had a little gathering in City Hall to welcome Penn Capital Management Company, a financial firm that is relocating from Cherry Hill in July to offices in the former Philadelphia Naval Yard.  "Even in these current economic conditions, firms are still interested in what Philadelphia has to offer," Nutter said.

The firm, which counts the city's pension fund as one of its clients, will bring 60 employees to Philadelphia.

Speaking of the pension fund, PhillyClout asked company officials what they think about the controversial Deferred Retirement Option Program [DROP], which has caused quite a dust-up in City Council this week.

"Don't even think about responding to that," Nutter told the firm's leaders with a chuckle.

About this blog
Chris Brennan, a native Philadelphian and graduate of Temple University, joined the Daily News in 1999. He has written about SEPTA, the Philadelphia School District, the legalization of casino gambling, state government, the mayor, the governor, City Council and political campaigns. E-mail tips to brennac@phillynews.com
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Jenny DeHuff is a 2005 graduate of the University of Rhode Island, where she cut her teeth in journalism. A South Philly transplant from New England, she joined the Daily News City Hall Bureau in 2013. For the past several years, she has worked as an investigative reporter exposing corruption in suburban politics, covering sometimes ghastly criminal court cases and following the people’s money and how its spent. In addition to being a dogged news hound, she enjoys reading and writing about travel, animals, Irish whiskey and aviation. E-mail tips to dehuffj@phillynews.com
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