The private equity firm is considering Miami and West Palm Beach, as well as an office elsewhere in the U.S., and another in Europe,” spokeswoman Joanna Rose told Bloomberg News.
While the company plans to keep its New York headquarters, it also “recently surveyed employees about where they prefer to work as part of a strategy to attract a broader talent pool,” she said.
Apollo has already done a lot to try and keep its 1,729 employees happy amid the pandemic.
The PE firm said in March it would grant its employees worldwide the option of working remotely two days out of the week for the rest of 2021.
Such moves have prompted the firm to consider other incentives, such as moving staff to locales with no state income taxes, such as Florida and Texas, Bloomberg reported.
Other Wall Street firms share the same sentiment.
“There’s no question there are employees at our firm who are wishing to move to other locations because of taxes. Every firm is seeing this,” BlackRock (BLK) - Get Report Chief Executive Larry Fink told Bloomberg.
The New York investment manager currently plans to remain in the city but is moving its headquarters to the Hudson Yards neighborhood.
At last check Apollo shares were trading 1.2% higher at $50.05. BlackRock shares were trading 2.1% higher at $817.67.