Wall Street's New HQ: Apollo's Global Expansion

0:00It's March 31st, I'm Cory with the story, and this is Durham News today, local news powered by AI. Wall Street's heart ain't beating just in New York anymore. Apollo Global Management, handling close to $938 billion in assets, just confirmed their scouting spots for a second, headquarters outside the city. It's all about grabbing top talent and fueling growth where the opportunities flow best. This move fits a bigger wave hitting finance since the pandemic. More than 370 investment firms, overseeing $2.7 trillion, shifted their main offices from New York and other. Spots between 2020 and early 2023, they're chasing lower costs and friendlier business vibes. Texas is blowing up as the new hotspot, with Goldman Sachs dropping $500 million on an $800,000 square foot campus in. Dallas set to open in 2028 for over 5,000 workers. Born in South Florida, Citadel jumped from Chicago to Miami, Wells Fargo moved wealth

1:01management to West Palm Beach, and Ark Invest set up shop there. 2. Lower taxes, cheaper living, and growing tech scenes are pulling them in. Apollo's not stopping at locations. They're expanding worldwide with a $3.7 billion buyout of Japan's NSG group their biggest. Private equity play there yet. Plus, they're paying out dividends like 51 cents per share for common stock in late February and 84 cents per preferred in April. This signals finance spreading out, prioritizing talent and savings over New York prestige. Expect more hiring shifts, regional booms, and a looser Wall Street game that could reshape how the money moves.