IG Wealth Management moving into renovated space at Portage and Main
By Geoff Kirbyson
AFTER nearly 40 years at the western edge of downtown Winnipeg, one of the biggest financial services companies in Canada is moving to Portage and Main.
Over the next two years, IG Wealth Management will move 1,200 employees to six floors of 360 Main Street, one of the three skyscrapers at Winnipeg’s most iconic intersection. The new location will feature updated technology and collaborative spaces and amenities such as an outdoor patio, skywalk access and social spaces. The company will also have conference, event and board space next door at 300 Main Street.
“The financial district in Winnipeg is at the corner of Portage and Main,” says Nancy McCuaig, executive vice-president and chief operating officer at IGM Financial, the parent company. “This is a great opportunity to recommit to downtown Winnipeg. The space is absolutely gorgeous.”
At the same time, IGM will vacate its long-time home at 447 Portage Ave., a 19-storey tower located about a mile to the west.
The company recently listed the building for sale, a move consistent with its real estate strategy in other cities, where it does not own the office space that it occupies. It’s looking for a new owner that will ensure the 38-year-old property continues to play a meaningful role in the ongoing development of downtown Winnipeg.
“(The move) signals the evolution of our business and really offering a renewed employee experience. It also gets us out of being a building owner, which is positive,” she says, noting IGM had also looked at space at True North Square, but needed more than was available.
IGM, which has offices across the country, owns just one building. For now.
“Owning one building with so much leased real estate doesn’t make it a core competency. We provide great financial planning advice and support,” she says.
It remains to be seen whether the building will continue to house office tenants. “Its future could be whatever a potential purchaser wants to imagine it as,” she says.
300 Main — the tallest building in town at 42 storeys — will also display IGM’s signage.
“It’s great branding,” McCuaig says. “You can see it from Highway 59 and the Perimeter Highway.”
Olivia Billson, director of communications and public relations with the Downtown Winnipeg BIZ, said she’s pleased that IGM will remain an active member of the central business district.
She said the company could have relocated to the suburbs or to another city altogether.
“It reinforces their commitment to downtown,” she says.
IGM’s move into newer leased space also aligns with recent vacancy trends.
“There’s a flight to higher class A spaces, newer and renovated spaces,” she says.
IGWM, which is celebrating its centennial this year, has $176 billion in assets under management. Nancy McCuaig, executive vice-president and chief operating officer at IGM Financial says relocating to Portage and Main is a great opportunity to recommit to downtown Winnipeg. IGM Financial
