Vanguard has broken ground for a four-story office building on the company’s 87-acre campus in Malvern, writes Jeff Blumenthal for the Philadelphia Business Journal.

The 240,000-square-foot building will offer 300 collaborative working spaces, and accommodate up to 1,600 members of Vanguard’s crew.

Paul Begin, Vanguard’s head of global corporate real estate and facilities management, said the new building will be home to existing team members and new hires, as the mutual fund giant continues to grow.

“We’ve been blessed with success, which has translated in return for investors,” he said. “So we need to add more staff.”

The company currently employs 12,500 people on its 13-building campus in Malvern and more than 17,000 globally.

Mike Rollings, Vanguard’s CFO, spoke at the groundbreaking ceremony, highlighting the firm’s longstanding commitment to the Chester County area.

“Malvern has been Vanguard’s hometown since we started back in 1975 – at a time when we had less than 50 people,” he said. “Today, we have almost 17,000 employees across the globe, and we’re the second-largest asset manager in the world. Part of investing in our crew is investing in the workplace and the resources we provide for them to serve our clients – this project is a great testament to that.”

Read more about Vanguard’s new building in the Philadelphia Business Journal here, and check out previous VISTA Today coverage of the company here.

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