VALLEY FORGE, Pa., Oct. 30, 2019 /PRNewswire/ -- Vanguard today announced that the Neptune building, an innovative, new office facility situated on the firm's 87-acre Malvern West campus, will officially open on Friday, November 1, 2019. Comprising more than 225,000 square feet and adjacent to the Orion and Defence buildings, the Neptune building will accommodate approximately 1,350 members of Vanguard's Retail Investor Group.
"After nearly two years of construction, we're pleased to welcome our crew to the Neptune building," said Paul Begin, head of Corporate Real Estate and Facilities Management for Vanguard. "Designed to offer improved access to natural light and exterior views, the new office space provides crew with an exceptional environment that enables collaboration and enhances productivity."
In alignment with sustainability best practices, Neptune features an energy-efficient LED lighting system, enhanced energy commissioning, and sections of green roof access. Vanguard's shuttle service, which helps crew with their daily commute by providing passage from local public transportation and other Vanguard sites during both the morning and evening hours, will include a stop at the Neptune building. The shuttles include three compressed natural gas buses.
Four electric vehicle charging stations will also be available to crew members working in the Neptune building, in addition to those already installed across Vanguard's Pennsylvania, Arizona, and North Carolina campuses. These stations resulted in a greenhouse gas reduction of more than 303,500 pounds in 2018.
A range of amenities, including a variety of collaborative working spaces, a spacious outdoor terrace, health and wellness facilities, and multiple dining options, including a La Colombe coffee bar and several self-checkout marketplaces with grab-and-go selections, will be available to crew.
History of Vanguard's campus and nautical terminology
Vanguard purchased the Malvern West property in 2012 and two existing buildings on the land due to its proximity to the firm's main headquarters, which consists of approximately 115 acres and 7 buildings. Consistent with Vanguard's naming convention, those buildings later became Orion and Defence.
In 1974, Vanguard's late founder, John C. Bogle, came across the name Vanguard while reading about the Battle of the Nile during which Lord Horatio Nelson, aboard his flagship HMS Vanguard, led 14 British ships to victory against Napoleon's French fleet in 1798. This battle, and the leadership and heroism displayed by the British commander, provided inspiration to Mr. Bogle to name his company Vanguard after the famous ship, as well as its traditional meaning – "leadership of a new trend." When Vanguard constructed its new world headquarters in Malvern in the early 1990s, the office buildings were badged with names from ships during the Battle of the Nile, including Goliath, Swiftsure, and Majestic.
In 1998, Vanguard unveiled the Morgan building in celebration of the 100th birthday of Walter L. Morgan, founder of Wellington Fund, Vanguard's first and oldest mutual fund. During a special ceremony in March 2019, Vanguard's training center was renamed in honor of the late Mr. Bogle. The name Neptune was chosen by crew from a list of options derived from the Battle of Trafalgar, during which Lord Nelson achieved a historic triumph over the French and Spanish in 1805, leading the British fleet aboard the flagship HMS Victory.
Vanguard's campus expansion reflects commitment to area, growth
The expansion of the Malvern West campus is the latest example of Vanguard's commitment to the greater Philadelphia region. Since 2000, the firm has added more than 10 properties in Pennsylvania, including Quarry Ridge, a six-story, 200,000 square foot building opened in 2014 and located less than a mile from the firm's main Malvern campus, as well as the Innovation Center, which was opened in 2017 at 2300 Chestnut Street in Philadelphia.
With more than 30 million investors around the globe, Vanguard's continued growth also offers the opportunity to expand and enhance its international presence. An office in Dublin, Ireland was established in 2019, and Vanguard's Canadian operation is currently in the early stages of a partnership with the University of Toronto to further develop its technological capabilities, with a particular emphasis on artificial intelligence and machine learning.
In total, Vanguard comprises 56 offices located across 19 cities worldwide, employing approximately 15,600 people in Pennsylvania and more than 22,400 globally.
Neptune by the numbers
Construction of Neptune, a four-story, red brick building, began in 2017. Here's a closer look at the work and materials that helped bring Vanguard's latest addition to life:
- More than 453,000 square feet of land will be landscaped when the project is fully complete.
- Sixty-five hundred cubic yards of concrete, more than 1,460 pieces of exterior glass, and more than 2,300 tons of steel were used during construction.
- More than 2,000 gallons of paint, 164,500 square feet of carpeting, and 2,760 lights were utilized in the fit-out.
Vanguard is one of the world's largest investment management companies. As of September, 2019, Vanguard managed $5.7 in global assets. The firm, headquartered in Valley Forge, Pennsylvania, offers more than 421 funds to its more than 30 million investors worldwide. For more information, visit vanguard.com.
Data as of September 30, 2019 unless otherwise noted.