Latin American Wealth Surging Into Miami at Record SpeedsDecember 22, 2023
The surge in wealth management firms in Miami this year, fueled by Latin American investors and pandemic-induced changes in the city, has been remarkable, as reported by Bloomberg.
According to the report, Miami has become a magnet for Latin American wealth at an unprecedented pace, marking one of the swiftest movements in history.
Among the firms experiencing growth is JPMorgan Chase, which is expanding to an additional floor at 1450 Brickell.
The head of private banking at JPMorgan highlighted a noteworthy shift in talent preferences, with professionals now wanting to relocate to Miami. While talent recruitment was challenging before the pandemic, the dynamics have reversed.
In addition to JPMorgan, other significant banks expanding significantly in Miami include Brazil’s Banco Bradesco and Itau Unibanco.