WRE News: Miami Emerges as a Top Global Financial Center in Latest Rankings

Miami, FL – October 3, 2023 – The Global Financial Centres Index has ranked Miami 24th worldwide and 7th nationally, marking the city’s ascent as a prominent tech and finance hub. The index, compiled by London-based think tank Z/Yen and the China Development Institute, analyzes factors like human capital, infrastructure, and regulations, drawing data from institutions such as the World Bank, the United Nations, and more. The surge in Miami’s tech and finance sectors during the pandemic attracted venture capitalists, private equity leaders, and entrepreneurs from established hubs like New York and California. Hedge funds like Point72 Asset Management, Apollo Global Management, and Blackstone have all expanded into the city, with Citadel CEO Ken Griffin’s relocation of his hedge-fund firm from Chicago to Miami marking a significant move. Venture capital firms like Atomic, Founders Fund, and A16z also set up shop in Miami, leading to a surge in venture capital investments in 2022. Miami also secured the 39th spot in the report’s assessment of financial and technology centers worldwide, with New York taking the top position.