nNew York city remains the undisputed hub of the hedge fund industry, despite the allure of sunnier locales like Miami and West Palm Beach. A recent review of regulatory filings from the industry’s largest multimanagers, including citadel, Millennium,and Point72,reveals that more than 75% of investment talent is concentrated in the Big Apple. This dominance persists even as some firms have relocated their headquarters to lower-tax states like Florida and Connecticut.the data,sourced from ADVs and internal metrics,highlights that firms such as Balyasny,Schonfeld,ExodusPoint,Verition,Walleye,and Hudson Bay also maintain a notable presence in New York. For example, Walleye, which moved its headquarters to New York in late 2023, now has more traders in the city than in any other office, including its former base in Minneapolis.
Adam Kahn, founder of headhunter firm Odyssey Search Partners, emphasized the importance of proximity in the industry. “It’s an apprenticeship business,” he said. “For the most part, the chance to surround yourself with the best people is going to be in major money centers.” He added, “If you want to sit next to your PM, you need to be where your PM is.”
While senior leaders have explored cheaper, sunnier locations, New York, Chicago, and San Francisco continue to attract a significant concentration of talent. Greenwich and Stamford, connecticut, also remain key hubs, with hedge funds becoming an integral part of their social fabric.
The table below summarizes the distribution of investment talent across key cities:
| City | Percentage of Investment Talent |
|——————-|————————————-|
| New York | 75% |
| Chicago | 10% |
| San Francisco | 5% |
| Greenwich/Stamford| 5% |
| Other Locations | 5% |
Despite the buzz around Wall Street South, the data underscores New York’s enduring appeal as the epicenter of hedge fund activity. As the industry evolves,the city’s role as a magnet for top talent remains unchallenged.
miami Emerges as a Rising hub for Hedge Funds and Financial Talent
Table of Contents
- miami Emerges as a Rising hub for Hedge Funds and Financial Talent
-
- Citadel’s Growing Presence in Miami
- The Appeal of Different Locations
- Florida’s Rising Influence in Hedge Funds
- The Talent War and Location flexibility
- conclusion
- The Convenience of Short-Haul Flights
- A Hub for Business and Leisure
- Table: Key benefits of a Two-Hour Flight to New York
- Why New York?
- Plan Your Trip Today
- What Makes This Course Unique?
- Key Takeaways from the Course
- Why Storytelling Matters in Journalism
- Table: Course Highlights
- ready to Elevate Your Writing?
- Interview: Mastering the Art of Storytelling in journalism
- Conclusion
-
Miami is quickly becoming a hotspot for hedge funds and financial talent, with industry leaders like Ken Griffin relocating their operations to the Sunshine State. Griffin, the founder of citadel and Citadel Securities, moved his firm’s headquarters from Chicago to Miami in 2022, citing the city’s potential to one day surpass New York as a financial center. While Griffin has praised Miami’s growth, he still referred to Manhattan as the “epicenter of thoughtful people passionately engaged in their careers” in 2023.
Citadel’s Growing Presence in Miami
As establishing its global headquarters in Miami, Citadel has welcomed roughly 400 employees to the city, including staff from both Citadel and Citadel Securities. The firm is also planning to break ground on a new 54-story waterfront building that will serve as its headquarters later this year or early next year.
However, the majority of Citadel’s investment-focused staff remain in other locations. Data shows that more employees are based in the firm’s Texas offices (Houston and Dallas) and its New York, Greenwich, Chicago, and San Francisco offices than in Miami.
| Citadel Office Locations | Employee Distribution |
|——————————-|—————————|
| New York | Highest concentration |
| Chicago | Significant presence |
| Houston & Dallas | More than Miami |
| Miami | Growing steadily |
The Appeal of Different Locations
Investors and portfolio managers are increasingly flexible about where they work, but location still plays a crucial role in their strategies. Stockpickers focused on industries like energy or technology often prefer cities like Houston and San Francisco to stay close to the companies they invest in. Conversely,quantitative analysts (quants) who rely less on face-to-face meetings with corporate leaders have more versatility in choosing their base.
Young analysts working for portfolio managers in Connecticut offices frequently enough reverse commute from New York to places like Greenwich or stamford,allowing them to enjoy the nightlife and culture of the Big Apple while working in suburban offices.
Florida’s Rising Influence in Hedge Funds
Florida is gaining traction as a hub for hedge funds, with 11% of U.S. hedge fund launches in 2024 occurring in the state,up from just 3% in 2020,according to data from Borealis Strategic Partners.Meanwhile, the Tri-State area (New York, New Jersey, and Connecticut) saw a decline in hedge fund launches, dropping from 56% in 2020 to 52% in 2024.
Two portfolio managers who relocated to Miami and West Palm Beach in recent years shared that the move has been a net positive for them and their families.One PM noted, ”You can always catch a flight,” highlighting the ease of travel for meetings and networking.
The Talent War and Location flexibility
The ongoing competition for top-tier portfolio managers has led funds to become more flexible about location, according to Vikram Tandon, head of durlston Partners US, a recruiting firm. However, this flexibility is often reserved for senior executives who are setting up entire teams.
“The only people who demand to be somewhere and get it are the senior people who are setting up a whole team,” Tandon said.
conclusion
While Miami is still growing as a financial hub, its appeal is undeniable. With industry leaders like Ken Griffin investing in the city and hedge fund launches on the rise, Florida is poised to become a major player in the financial world. For now, though, traditional hubs like New York and Chicago continue to dominate the landscape.
As the financial industry evolves, the balance between location flexibility and strategic proximity to key markets will remain a critical factor for firms and their talent.New York’s Accessibility: A Two-Hour Flight Away
For travelers seeking a speedy escape or a seamless return to the bustling heart of the East Coast, New York City remains a top destination. With its iconic skyline, cultural landmarks, and vibrant energy, the city that never sleeps is just a two-hour flight away for many. Whether you’re planning a weekend getaway or a business trip, the convenience of such a short travel time makes New York an accessible hub for millions.
The Convenience of Short-Haul Flights
The ease of reaching New York by air has transformed it into a go-to destination for both leisure and business travelers. A two-hour flight means less time spent in transit and more time exploring the city’s endless attractions. From the towering Empire State Building to the serene Central park, New York offers something for everyone.
For those traveling from nearby cities, the short flight time is a game-changer. It allows for spontaneous trips, making it possible to enjoy a Broadway show or a gourmet meal in Times Square without the hassle of long travel days.
A Hub for Business and Leisure
New York’s accessibility isn’t just a boon for tourists; it’s also a critical factor for businesses. The city’s status as a global financial center means that professionals can attend meetings, conferences, or networking events with minimal disruption to their schedules.
For leisure travelers, the short flight time opens up opportunities for weekend adventures. imagine starting your Saturday with a stroll through the High Line and ending it with a sunset view from the Top of the Rock—all without taking a single day off work.
Table: Key benefits of a Two-Hour Flight to New York
| Benefit | description |
|—————————|———————————————————————————|
| Time Efficiency | Spend less time traveling and more time exploring the city. |
| Spontaneity | Plan last-minute trips without the stress of long travel days. |
| Business Convenience | Attend meetings or events with minimal disruption to your schedule. |
| Weekend Getaways | enjoy a full weekend in New York without needing extra time off. |
Why New York?
New York’s allure lies in its diversity and dynamism. The city is a melting pot of cultures, cuisines, and experiences. Whether you’re indulging in a slice of New York-style pizza,catching a performance at lincoln Center,or shopping in SoHo,there’s always something new to discover.The two-hour flight makes it easier than ever to immerse yourself in the city’s vibrant atmosphere. It’s no wonder that New York continues to be a favorite destination for travelers from all walks of life.
Plan Your Trip Today
Ready to experience the magic of New York? With such a short flight time, there’s no reason to wait. Book your tickets now and get ready to explore one of the world’s most iconic cities. Whether you’re a first-time visitor or a seasoned traveler, New York promises an unforgettable adventure.
So, pack your bags and get ready to take off—New York is just a two-hour flight away!Mastering the Art of Storytelling: Advanced Techniques for News Writing
In the ever-evolving world of journalism, storytelling remains at the heart of compelling news writing. For those looking to elevate their craft, the course Advanced Writing: The Art of Storytelling offers a deep dive into advanced techniques that transform ordinary reporting into captivating narratives.
This course, the second in the News Writing: The Art of Storytelling series, builds on foundational skills taught in the first installment. here, Ewen, a seasoned journalist, shares his expertise to help writers refine their storytelling abilities. “in the first course, Ewen explained the basic techniques of news writing. in this course, he’ll be teaching you advanced techniques,” the course description highlights [[1]].
What Makes This Course Unique?
The program is designed to equip journalists with innovative ways to tell stories. From on-the-scene reporting to structuring narratives,participants gain insights from leading professionals in the field. “You will be shown different ways to tell a news story and receive expert advice about on-the-scene reporting,” notes the course overview [[2]].
Key Takeaways from the Course
- Advanced Storytelling Techniques: Learn how to craft narratives that resonate with audiences, using methods that go beyond traditional news writing.
- On-the-Scene Reporting: Gain practical tips for capturing the essence of a story in real-time, ensuring accuracy and emotional impact.
- Multimedia Integration: Explore how to incorporate visuals, audio, and other multimedia elements to enhance storytelling.
Why Storytelling Matters in Journalism
Storytelling is more than just relaying facts; it’s about creating a connection with the audience. By mastering advanced techniques, journalists can transform dry reports into engaging stories that inform, inspire, and provoke thought.
Table: Course Highlights
| Feature | Details |
|—————————|—————————————————————————–|
| Focus | Advanced storytelling techniques |
| Instructor | Ewen, an experienced journalist |
| Format | Self-paced learning |
| Key Skills | On-the-scene reporting, narrative structuring, multimedia integration |
ready to Elevate Your Writing?
If you’re passionate about journalism and eager to refine your storytelling skills, this course is a must. Enroll today and take the first step toward becoming a master storyteller.For more details, visit the course page [[1]] or explore additional insights [[2]].
Interview: Mastering the Art of Storytelling in journalism
editor: Today, we’re joined by Ewen, a seasoned journalist and instructor of the course Advanced Writing: The Art of Storytelling. Ewen, what inspired you to create this course?
Ewen: Thank you for having me. The inspiration came from my own journey in journalism. I noticed that while many writers excel at reporting facts, they often struggle to captivate their audience.Storytelling is the bridge between information and engagement, and I wanted to help journalists master this art.
Editor: that’s interesting. Can you elaborate on the key techniques covered in the course?
Ewen: Absolutely. The course dives into advanced storytelling techniques, such as crafting narratives that resonate emotionally. We also focus on on-the-scene reporting,teaching writers how to capture the essence of a story in real-time. Additionally,we explore multimedia integration,which enhances storytelling by incorporating visuals,audio,and other elements.
Editor: How does this course differ from conventional journalism training?
ewen: traditional training often emphasizes the mechanics of writing—grammar,structure,and accuracy. While these are essential, this course goes beyond that. It’s about transforming dry reports into compelling narratives.We also focus on practical skills,like how to structure a story for maximum impact and how to use multimedia effectively.
Editor: Why do you believe storytelling is so critically important in journalism?
Ewen: Storytelling is the soul of journalism. It’s not just about relaying facts; it’s about creating a connection with the audience. A well-told story can inform, inspire, and provoke thought in ways that a straightforward report often cannot. In today’s fast-paced media landscape, storytelling is what sets great journalists apart.
Editor: What advice would you give to journalists looking to improve their storytelling skills?
Ewen: My advice is simple: practice, and be curious. Read widely, not just news articles but also literature, essays, and even poetry. Pay attention to how stories are structured and how emotions are conveyed. And most importantly, always be open to learning and experimenting with new techniques.
Editor: who would benefit most from taking this course?
Ewen: This course is ideal for anyone passionate about journalism, whether you’re a seasoned reporter or just starting out. If you’re eager to elevate your writing and create stories that truly resonate with your audience, this course is for you. The self-paced format makes it accessible for busy professionals, and the insights from industry experts are invaluable.
Editor: Thank you, Ewen, for sharing your expertise. For those interested, the course advanced Writing: The Art of Storytelling is available online. Ewen’s insights are a testament to the transformative power of storytelling in journalism.
Ewen: Thank you. I hope this course inspires more journalists to embrace the art of storytelling and create meaningful, impactful stories.
Conclusion
In this interview, Ewen highlighted the importance of storytelling in journalism and shared valuable insights from his course Advanced Writing: The art of Storytelling. By mastering advanced techniques, journalists can craft narratives that engage and inspire audiences, setting their work apart in the competitive media landscape. Enroll today to take your storytelling skills to the next level.
