Wealth management companies have been growing rapidly in Miami this year, thanks to Latin American investors and changes in the city brought about by the pandemic, according to Bloomberg.
The movement of wealth to Miami-based management is happening at “at one of the fastest clips in history,” the report said.
Among the companies growing here is JPMorgan Chase, which is expanding to an additional floor at 1450 Brickell.
JPMorgan’s head of private banking told the news service that there has been a shift in talent wanting to relocate to Miami. Recruiting talent here was seen as difficult prior to the pandemic, but it is now “the other way around.”
Other banks that have seen big expansions in Miami recently include Brazil’s Banco Bradesco and Itau Unibanco.
(photo: Phillip Pessar)