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Marathon CEO Cites NYC Costs, Covid, Crime for New Miami Outpost

  • Richards will let non-investment employees move to Florida
  • He loves NYC, but it’s ‘not what it once was,’ CEO says on BTV

Marathon Asset Management is setting up an office in Miami as the Covid-19 pandemic upends New York City as a financial hub, according to co-founder and Chief Executive Officer Bruce Richards.

“Marathon South will be an option for our employees,” Richards said in an interview on Bloomberg Television Wednesday. The Miami office will mainly be for non-investment professionals and the investing team will remain in New York, he said.