Bluestone Completes Three Simultaneous Office Moves As Business Expands
With a year of rapid growth behind it, Bluestone has expanded its operations across all three of its APAC locations to accommodate more than 80 new staff members.
Following a year marked by substantial business growth, Bluestone has completed three simultaneous office moves for its Sydney, Auckland and Manila offices to accommodate its need for resources and expanding staff numbers.
After its acquisition by an affiliate of Cerberus Capital Management, L.P. and subsequent move into the near prime lending space in April 2018, Bluestone entered a period of expansion which saw the hiring of more than 80 new staff members over 12 months across the APAC region to a total headcount of over 250. In the same time period, Bluestone’s originations increased by 75% compared to the 12 months prior.
As part of the move, Bluestone’s Sydney headquarters took on an additional 700 sqm of space across a second level in their CBD building, just 12 months after moving into the space as part of its last expansion. The Auckland team, looking after the New Zealand market since relaunching successfully in 2017, moved into new dedicated office space to support the significant growth in volumes anticipated in the coming months.
Bluestone’s Manila branch, which is fully integrated into Bluestone’s functional business unit operations, also moved into larger offices to support its growing team. Bluestone’s total leased office space across the APAC region is now made up of over 3000sqm.
Bluestone CEO Campbell Smyth said of the moves: “The three office relocations and expansions we recently completed serve as a physical signpost of the growth our business has experienced for the past 12 months. As we continue on this path, we want to ensure our staff continue to have the resources they need to serve our borrowers and broker network with the efficiency Bluestone is known for in the market.”