Accounting firm says it plans no Chicago-related layoffs in the Twin Cities.
McGladrey, the big, Minneapolis-based accounting and consulting firm, is moving its headquarters to Chicago.
McGladrey CEO Joe Adams, who attended Chicago's DePaul University, has been based in the larger Chicago office for years.
"As a global business hub, Chicago provides an outstanding climate to fuel McGladrey's future growth domestically and abroad," Adams said in a prepared statement on Thursday. "Chicago is a central location that provides convenient access to our many U.S. offices, our clients and the global locations where they operate."
Mike Nelson, managing partner of the 500-employee downtown Minneapolis and Bloomington offices, said in an interview there will be no Chicago-related layoffs or transfers.
"We've got 380 people in downtown Minneapolis, at McGladrey Plaza at 8th Street and Marquette Avenue," Nelson said. "And 120 in Bloomington who are moving downtown in September. We also have offices and well over 100 people in Duluth and Rochester.
"We'll hire 100 people this year in the Minneapolis market in our consulting, tax and audit businesses. We're not changing our market focus. We're expanding and looking for new business here. We're still involved in the community, in nonprofits and the United Way, in a very significant way."
Doug Opheim, McGladrey's chief financial officer, now based in Bloomington, will move to the consolidated downtown Minneapolis office in September.
"We have always been kind of a virtual office," Nelson said.
The firm, which specializes in serving middle-market businesses, did not pit Minneapolis against Chicago or seek or receive incentives to move, according to Terri Andrews, a McGladrey spokeswoman.
The headquarters announcement was made Thursday by Chicago Mayor Rahm Emanuel, who said McGladrey is the sixth company to move a North American headquarters to Chicago in recent years, including GE Transportation, Sara Lee and ThyssenKrupp.
"McGladrey will create significant economic opportunity and job growth throughout Chicago as it supports its local clients and grows its business," Emanuel said. "Chicago has the talent that will help McGladrey thrive for years to come."
McGladrey, the fifth-largest U.S. provider of assurance, tax and consulting services, opened its 1,000-strong Chicago office in 1985. The firm anticipates hiring 300 to 500 professionals in the Chicago area in the next five years.
McGladrey employs 6,500 nationwide.
Neal St. Anthony • 612-673-7144