If you’re an investment professional in New York, you’re probably thinking of leaving.
According to a Manhattan Institute Survey nearly half of New Yorkers earning more than $100,000 a year are. United Van Lines reports 67% of New York shipments are now “outbound,” and, as James Altucher observed in his trending LinkedIn post “NYC Dead Forever,” a Facebook group formed for leavers had 10,000 members in just three days. Covid has taken an existing trend and bent the curve sharply upwards.
Florida is the destination of choice, for high profile Wall Street figures from Paul Singer of Elliot Management to legendary Wall Street raider Carl Icahn, and for prestigious companies such as the Goldman Sachs asset management division. The list of investment firms creating new hubs outside New York is very long – Credit Suisse, Morgan Stanley, Barclays, UBS, Citigroup, Alliance Bernstein.
The boss of Moelis Investment Bank, Ken Moelis, says he was app…