Home NewsBusiness CT cements status as ‘hedge fund capital’ despite COVID, as Greenwich Economic Forum returns

CT cements status as ‘hedge fund capital’ despite COVID, as Greenwich Economic Forum returns

by Marjorie

GREENWICH — Earlier than the COVID-19 pandemic struck, southwestern Connecticut ranked as one of many world’s prime locations for financial-services corporations. Amid the upheaval of the previous 18 months, the world has solidified its standing as an trade hub.

The resilience is mirrored within the trajectory of hedge funds, a department of the financial-services sector whose Connecticut-based corporations cumulatively account for 1000’s of jobs and several other hundred billion {dollars} in belongings underneath administration. Hedge fund advocates see the potential for much more native progress, with the upcoming Greenwich Financial Discussion board highlighting the state’s prominence within the investing neighborhood.

“I believe COVID has achieved extra to assist the native monetary scene than something proper now,” Bruce McGuire, president of the Connecticut Hedge Fund Affiliation and co-founder of the Greenwich Financial Discussion board, stated in an interview.

“There are numerous those who even when their workplace wasn’t right here in Greenwich, they lived right here in Greenwich and they might commute day-after-day into New York Metropolis,” he stated. “A lot of these individuals aren’t going to return to New York Metropolis. The variety of individuals and corporations who’re going to arrange a satellite tv for pc workplace or earn a living from home in Greenwich goes up.”

‘We’re doing very nicely’

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