Lincoln Financial Group aims to move its headquarters from Fort Wayne, Ind., to the Philadelphia area.
Fort Wayne has been home for 90 years, but the diversified financial services company, whose biggest businesses are insurance and asset management, said it wants to be closer to the action.
"It's the intensity that you find in the competitive areas that we feel we need to be closer to," said Scott Bushnell, a spokesman.
About 3,000 employees will remain in Fort Wayne. Since September the company has reduced the headquarters staff from 250 to 60 by cutting 35 jobs and moving employees to other locations.
The board formally approved the idea of moving last week. A site in the Philadelphia area has not been selected. -Michael O'D. Moore