The South Florida Sun Sentinel’s David Lyons reports that Goldman Sachs may be looking in South Florida for a new location for its asset management division. He writes:
A trove of rich economic benefits might be in store for South Florida if investment giant Goldman Sachs chooses to relocate an $8 billion division from New York to the tri-county area, analysts said Monday.
News that the Wall Street investment powerhouse has scouted office locations in Fort Lauderdale and West Palm Beach emerged recently in a report by Bloomberg, which characterized a plan to house Goldman’s asset management division here “as another potential blow to New York’s stature as the de facto home of the U.S. financial industry.”
The division generates an estimated $8 billion in annual revenues, according to the New York Times.
In a statement Monday, Goldman Sachs said that while it is in the hunt for locations outside New York, the firm has nothing to report.
“We are executing on the strategy of locating more jobs in high value locations throughout the U.S.,” said spokesman Patrick Scanlan. “But we have no specific plans to announce at this time.”
Commercial real estate analysts said that over the last one to two months, the firm was in talks to lease space at the Related Companies’ Rosemary Square project in West Palm Beach, and also expressed interest in Stiles’ new office, residential and retail high-rise in downtown Fort Lauderdale.