Reports indicate that General Motors plans on shifting 70 of its treasury jobs from its New York City offices to Detroit by mid-2014. Hopefully, any stereotypical Manhattan pretentiousness they may have will remain in NYC before they move, as Detroit won’t have that.
Moving the positions to Detroit helps consolidate things at GM HQ, and should help integrate the team more effectively into core business operations. However, the automaker plans to keep its asset management team and other support staff, consisting of around 150 members, in NYC, but they’ll be moving to a new midtown Manhattan office in June.
The duties of the asset management department involve directing the company’s pension funds and other investments.