FHN Financial confirmed Tuesday, June 29, that it will move in May 2022 from its longtime office building in East Memphis’ Colonial neighborhood to 1000 Ridgeway Loop in the Ridgeway Center.

The division of First Horizon Bank had moved nine miles east nearly 40 years ago from the bank’s Downtown tower to 845 Crossover Lane in the Audubon Woods Business Campus.

FHN Financial confirmed a Memphis Business Journal report that it will move due east another three miles to Boyle Investment Co.’s mixed-use Ridgeway Center.

The operation takes with it about 275 employees.

The impetus for the move is the coming end, in May 2022, to the lease at 845 Crossover Lane, FHN Financial executive vice president Rick Bollinger said.

The firm now occupies more than 60,000 square feet in the two-story, 40-year-old building. The brick structure is the southernmost – nearest Park at Perkins – of four office buildings in the Audubon Woods Business Campus where the major tenant remains Hilton Hotels Corp.

Working with First Horizon’s corporate real estate office for more than a year, FHN Financial considered several other East Memphis and Germantown locations, Bollinger said.

“We like this building,” he said of the five-story 1000 Ridgeway Loop Building. FHN Financial will occupy floors two and three, which are 25,000 square feet each.

The “key drivers” leading FHN Financial to the Ridgeway Center building, Bollinger said, were: Location, including proximity to where many employees live; the “freshness of the space;” the security there; the flexibility of the space that has few columns; and the landlord.

“A quality landlord with a great reputation in the community,” he said of Boyle Investment Co.

“That, plus it’s a very attractive building,” Bollinger said. “It lays out quite well. And it’s accessible… for most all our current employees.”

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Known as the “bond division” when it moved from Downtown four decades ago, FHN Financial provides fixed-income services. The firm provides mortgage trading, underwrites agency debt, and provides portfolio strategies to more than 4,400 institutional customers in 40 countries.

Six entities come under FHN Financial: Capital Markets, Securities Corp., Capital Assets Corp., Portfolio Advisors, Main Street Advisors and Municipal Advisors.

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FHN Financial’s average daily trading volume totals about $7 billion daily, and its customers include about half of all banks in the U.S., according to the firm’s website.