Goldman Sachs Considering Opening Hub In South Florida: Bloomberg

Gary Anglebrandt

Sun, Dec 6, 2020, 3:08 PM1 min read

In this article:

South Florida has long been a draw for the wealthy, as this estate on the market for .5 million shows.

Goldman Sachs Group Inc (NYSE: GS) could be setting up shop in South Florida.

Citing unnamed sources, Bloomberg reported that the Wall Street heavyweight is considering establishing a hub for its asset management arm in South Florida.

The move would be another blow to New York. The pandemic has accelerated a trend already underway in the city: white-collar workers leaving because of the high costs.

The news outlet said factors behind the thinking include the weather, taxes and the experience of working remotely during the pandemic. Blackstone Group Inc (NYSE: BX), Elliott Management Corp. and Citadel have already built up their presence in Florida, Bloomberg reported.

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Goldman Sachs Considering Opening Hub In South Florida: Bloomberg

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