The Globe and Mail reports in its Saturday edition that Charlotte, N.C., has ballooned into a financial services hub home to nearly three million people, helping North Carolina's economy grow 3.7 per cent last year. The Globe's Tim Kiladze writes that with the U.S. Southeast booming, Charlotte has become a baby Wall Street that attracts young finance bros. Standing at the corner of Trade and Tryon streets at lunchtime in mid-June, they walk by under the city's famous tree canopy. To recruit, Charlotte's lenders had to promote quality of life. "We would target folks in New York who were married with small children," explains Mark Vitner, a veteran economist who has worked for Wachovia and Wells Fargo. Of course, housing was always so much more affordable. The city has long been home to Bank of America and now, Wells Fargo and Truist Financial have a big presence in the city, and these giants helped build an ecosystem for the likes of Barings Bank, Ally Financial and LendingTree. South Carolina used to be the land of textiles and tobacco, with a little bit of tourism. The first two petered out with globalization, but tourism has flourished, particularly in Charleston, the coastal city in the southeast corner.
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