Goldman Sachs is reportedly considering moving its asset management headquarters to South Florida from New York City, joining the pilgrimage of investment firms to the Sunshine State.
The news came from knowledgeable sources who spoke to Bloomberg. Goldman is considering the Fort Lauderdale area and Palm Beach County, according to the report. The bank is also looking at Dallas, Texas.
This comes as other firms, including Elliott Management, Citadel, and even Blackstone have all migrated south.
The draw of Florida is its lack of an income tax, pleasant lifestyle, and lower costs. The coronavirus pandemic that has decimated the Northeast also is pushing investment firms south.