WRE News: Ken Griffin Predicts Miami Will Replace NYC as US Finance Capital

Miami, FL – November 16, 2023 – In a bold prediction, hedge fund manager Ken Griffin has suggested that Miami could surpass New York’s Wall Street as a financial hub.
Speaking at the Citadel Securities Global Macro Conference in Miami, Griffin praised the city’s vibrant economy, hinting at the potential for Wall Street South to eclipse its northern counterpart in the coming years. Griffin’s sentiments align with a broader trend, as numerous Wall Street firms have migrated to Florida in recent years, drawn by its business-friendly climate and lower taxes. High-profile finance figures, including Griffin, Carl Icahn, and Paul Singer, have relocated their headquarters from New York to Florida. A total of 160 Wall Street firms have made the move, shifting a staggering $1 trillion in financial assets out of Manhattan. The exodus is fueled by concerns over New York’s high taxes and a perceived unfriendliness towards the financial industry.