MetLife to move 2,600 jobs to NC from NE, Calif.

Published on NewsOK Modified: March 7, 2013 at 2:11 pm •  Published: March 7, 2013
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MetLife plans to establish hubs for its U.S. retail business in Charlotte, one of the country's financial centers, and for its global technology and operations in Cary, in the Research Triangle technology region, McCrory's office said. Favorable infrastructure and deep talent pools in the regions were key reasons for the decisions, MetLife executive vice president Eric Steigerwalt said.

New York-based MetLife reported last month that its fourth-quarter profits plunged after it took $855 million in losses on derivatives, which are financial instruments often used to hedge against future price fluctuations of an underlying commodity or security. MetLife uses them to hedge changes in interest rates and fluctuations in foreign currencies.

The company also announced last month it plans to pay about $2 billion to buy the largest private pension fund administrator in Chile as MetLife builds its presence in emerging markets.

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