By Ian Bush

PHILADELPHIA (CBS) — Vanguard has broken ground on an expansion of its campus in Malvern — a 240,000 square foot space they promise will be the ‘workplace of the future.’

$4.7 trillion in global assets under management — business is booming at Chester County’s largest employer.

“It’s a big milestone and a critical point in Vanguard’s growth here in Malvern,” said Paul Begin, the company’s real estate boss.

Begin says the building will be designed around how the job gets done.

“Many people don’t work as individuals now, they work as teams,” he said. “They need not just workstations but they need collaboration spaces, they need quiet zones.”

There will be space for up to 1,600 current and future employees. It’s set to open in late 2019 here at Vanguard HQ along Routes 202 and 29.