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Old 02-24-2014, 05:47 PM
471 posts, read 835,815 times
Reputation: 197


Miami Is The New Manhattan - Business Insider
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Old 02-26-2014, 11:15 AM
230 posts, read 369,437 times
Reputation: 282
Wealthy New Yorkers have always had presence in South Florida, so Lloyd Blankfein and Leon Black purchasing condos here is hardly news. Tell me when they relocate Goldman Sachs corporate headquarter down here. Hedge funds have always been down here too. This article is very superficial.

Miami will never be more than glamour city until it can attract a serious industry or at least one major corporation like a Proctor & Gamble or GE.

The Miami finance industry is primarily wealth management related as it caters to many wealthy foreigners and retirees from other part of the county. The money brought here usually goes onto New York, Boston, San Francisco, Chicago, LA where the real wealth management firms are. There are a couple large private equity shops here, HIG and Sun Capital (actually in Boca), but the rest of the private equity shops are small. Hedge funds exist here but they employ few people and I would say represent a small number of people working in the finance industry in Miami.
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