"Despite the narrative that Miami is a cheaper, warmer alternative to high-tax cities, the average employee in asset management is not convinced that relocating would be beneficial."
"Regulatory filings show that in 2025, eight major multistrategy funds had 218 investment professionals in Miami, but by the following year, that number dropped by 20."
"Ken Griffin's Citadel, which moved its headquarters to Miami, lost 15 investment professionals in its Miami offices, even as its overall investing team grew by 77."
"Millennium's investment team in Miami decreased from 53 to 48 professionals, indicating a trend of declining investment talent in the city despite overall growth."
Miami's hedge fund week revealed a decline in interest among investment professionals to relocate to Florida. While wealthy founders are buying property, average employees remain unconvinced about moving. Regulatory filings indicate a decrease in investment professionals in Miami from major firms, despite an overall increase in their headcount. Citadel and Millennium, two significant players, reported losses in their Miami investment teams. The trend suggests that Miami's momentum as a hedge fund talent hub may be slowing down.
Read at www.businessinsider.com
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