The financial firm Cortland Capital Market Services said Wednesday morning that it plans to expand into Indianapolis, creating up to 153 jobs by 2019.
The Chicago-based company will move into office space at 8440 Allison Pointe Blvd. in Castleton. It has begun hiring personnel in securities operations, loan administration, Small Business Administration loan servicing and financial analytics.
Founded in 2008, Cortland has $40 billion in assets under administration. It provides bank loan servicing, securitization and other services to financial institutions. Cortland’s clients include many of the world’s largest alternative investment managers, real estate managers, banks and commercial lenders. The company operates offices in Chicago, London, Los Angeles and New York.
“Indiana’s excellent business climate and talented work force made Indianapolis an ideal location for Cortland to expand our operations to serve our growing client base,” Cortland principal Doug Hart said in a prepared statement.
He said Butler University graduate Luke Newcomb will lead the Indianapolis office.
The Indiana Economic Development Corp. offered Cortland up to $1.8 million in tax credits based on the company's job-creation plans. The credits are performance-based, meaning until workers are hired, the company is not eligible to claim incentives.
“Indy is rapidly becoming a market of choice for many national and international companies,” Indianapolis Mayor Greg Ballard said in a prepared statement. “We are proud to add Indy to the list of cities like Chicago, London, Los Angeles and New York where Cortland operates.”