WEST PALM BEACH, Fla. — Another major financial company has its sights set on South Florida, possibly moving a portion of one of its key divisions from New York City.
Bloomberg News reports that Goldman Sachs is the latest company eyeing a move to the Sunshine State, a trend that has been accelerated by the coronavirus and a shift to remote working.
Leadership within the company is seeking to relocate the company's asset management division to an area north of Miami, according to the report.
The financial powerhouse has looked at potential office space in "places like Palm Beach County and Fort Lauderdale," Bloomberg says.
"As announced at our investor day in January, we are executing on the strategy of locating more jobs in high-value locations throughout the U.S., but we have no specific plans to announce at this time," a representative of Goldman Sachs told WPTV in a statement.
Goldman employs around 40,000 workers and had net earnings of $8.47 billion in 2019.
Headquartered in Manhattan, the company was founded in 1869 and offers a variety of financial services, including securities and investment management.
Florida has often been a favorite location for companies seeking to relocate from less tax-friendly states like New York.
It was reported in October that Elliott Management, a hedge fund valued at $41 billion, is moving its headquarters from New York to Palm Beach County.