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Cathie Wood’s New York Exit Spotlights Overlooked Florida Region

  • Ark shuttering Manhattan headquarters, moving to Tampa area
  • Miami, West Palm Beach have generated buzz with finance firms
relates to Cathie Wood’s New York Exit Spotlights Overlooked Florida Region

Source: Google Maps

Cathie Wood’s move to St. Petersburg is giving an added boost to a Florida region that has quietly been booming, even as Miami and West Palm Beach generate more attention as destinations for New York finance firms.

With the addition of Ark Investment Management, which has about three dozen employees, the Tampa Bay metro area will have expanded assets under management by 61% to at least $582.4 billion since December 2019, according to Securities and Exchange Commission data. By comparison, the Miami metro area -- an area twice as populous with roughly 6 million people -- has seen a 58% boost to $864.4 billion.