On December 15, 2022, Mairs & Power officially unveiled its new office space with a reception and ribbon cutting ceremony.
The firm is now located on the 25th floor of Wells Fargo Place at 30 East 7th Street in St. Paul, Minnesota.
City of St. Paul Mayor Melvin Carter, the St. Paul Chamber of Commerce, the St. Paul Downtown Alliance, Mairs & Power employees, and friends of Mairs & Power gathered and discussed how this move will aid the firm and its clients, but also stay true to its St. Paul roots.
“Looking around this beautiful space, I just can’t wait for the next 80 years in this building,” said Rob Mairs, President at Mairs & Power. “We wanted to create a first-class space for our employees and for our clients, and to reflect how we work and service our clients today. But we also wanted to show our commitment to investing in the future of downtown St. Paul.”
Mairs & Power also wishes a special thank you to members of the construction, architecture, and design teams who joined the launch of the new office and helped showcase all the hard work put into our new home.
Saying Goodbye to a Long-Time Home
Mairs & Power called the First National Bank Building home for nearly 80 years, and it was critical to remain tied to the St. Paul ethos that George Mairs instilled in the company he founded. With panoramic views of the state Capitol, the Mississippi River, East St. Paul, and the Minneapolis skyline, the new office space provides a chance to enhance collaboration and service to clients. It also doubles down on support for the city.
“Our goal in Saint Paul is quite simply to continue being a striving, vibrant, economic center,” said Mayor Carter. “We have fantastic partners in the private sector and it’s something that makes our work easier every single day.”
The firm’s Chairman and CEO, Mark Henneman, opened the festivities reminiscing on the many years of accomplishments the firm has experienced. From its founding in 1931, to launching one of the first mutual funds, to national coverage via a Forbes profile in 1994, to being named Fund Manager of the Year by Morningstar in 2012, a focus on long-term investing has brought consistent success for more than 90 years. It is also seen in a long-term commitment to remaining in the place it first called home. While the necessity to leave First National Bank was evident for creating a more cohesive and viable work environment, Mark noted that the firm’s commitment to Minnesota and the Upper Midwest meant it was adamant about staying in St. Paul. As a 100% employee-owned investment firm, and the oldest privately owned investment firm in Minnesota, the impact of remaining in the city wasn’t lost on the mayor.
“One of the most important investments you can make is when you vote with your feet,” Carter said. “To be an employee-owned company literally betting on Saint Paul not just by investing, but by investing locally in ideas, in human capacity, in businesses locally in the way that you do is really important. Thank you for telling the world what you think about the future of our downtown.”
Find out more about Mairs & Power’s move by reading this in-depth article in Twin Cities Business.