Virtu Moving Workers to Florida as Pandemic Reshapes Wall Street
- Market maker to shrink Manhattan office space by 75%, CEO says
- Staffers want better quality of life and to avoid mass transit
This article is for subscribers only.
Virtu Financial Inc. is heading to Florida, adding to the wave of financial firms setting up bases outside Manhattan as the pandemic transforms how and where people work.
The electronic market maker is preparing to move about 30 people to Palm Beach Gardens from New York. It’s close to signing a 10-year lease to accommodate staff who volunteered for the transfer, and expects their ranks to swell this year to roughly 50 people, or 10% of Virtu’s U.S. workforce, Chief Executive Officer Doug Cifu said. The firm’s headquarters will remain in Manhattan.