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.