Navient Tuesday marked the opening of its new headquarters at 123 Justison Street in Wilmington.
Staff moved in to the 46,000 square-foot space located on two floors of the Star Building on the Riverfront earlier this month. More than 120 employees in executive, compliance, human resources, corporate communications and technology work at the headquarters.
The opening ceremony included a ribbon-cutting to dedicate the new headquarters and remarks from executives, elected officials and community leaders. Navient is part of a spin-off of Sallie Mae into two publicly traded companies. Sallie Mae operates a bank and related operations in the Newark area.
“The decision for Navient to establish its nationwide corporate headquarters in Wilmington is a testament to our talented workforce,” said Gov. Jack Markell.
“I thank Navient for demonstrating their commitment and confidence in our city and warmly welcome their employees to Wilmington,”said Mayor Dennis P. Williams. “Navient’s move to the Riverfront represents the growth of new economic opportunities in the city, and supports Wilmington’s long-standing history as a solid investment option for businesses. I look forward to working with Navient in the future, as we continue to support the growth of Wilmington’s business community.”
Navient is the nation’s largest student loan servicer. The company provides customer service and collects payments on student loans. In addition, the company provides asset recovery services for a number of government and institutional clients.
“Navient team members deliver best-in-industry service and performance helping our customers on a path to financial success,” said Jack Remondi, CEO, Navient. “We’re proud to do that work in Delaware and now be part of the vibrant Wilmington Riverfront.”
Navient also leases space in the Iron Hill Corporate Center, located at 800 Prides Crossing in Newark. The company employs nearly 800 people in Delaware and expects to employ 950 by the end of 2016.
At the ceremony, company leaders announced three $15,000 grant awards from the Navient Foundation to nonprofits in the city to support economic development and financial literacy: Delaware Children’s Museum, West End Neighborhood House and Duffy’s Hope.
