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August 17, 2021

NY hedge fund opening office in southern CT

Photo | Wikimedia Commons Downtown Stamford.

A New York-based investment management firm is planning to open a new office in southern Connecticut, company officials announced Tuesday.

In a statement, Schonfeld Strategic Advisors detailed plans for a multi-state expansion effort, which includes the opening of offices in southern Connecticut and New Jersey.

The company did not specify where in the southern portion of the state it plans to set up operations or how many workers might be based there.

Schonfeld said it is also building out its corporate headquarters in New York, expanding its offices in Dallas, San Francisco and Long Island and setting up a second headquarters in Miami.

“We believe there is a real opportunity to increase the firm’s productivity and work life balance by shifting the way we view in-office and remote work,” said Ryan Tolkin, who serves as CEO and chief investment officer of Schonfeld. “Our culture and our people are truly the heart of our organization, and the combination of these new offices and a dynamic approach to the workforce will provide benefits that additional time and flexibility create on a personal level.”

The announcement is the latest in a series of corporate moves suggesting Connecticut may be more attractive to outside businesses now than it historically has been, likely aided in part by a pandemic-inspired rush to the suburbs.

In June, Philip Morris International announced plans to relocate its headquarters from New York to southern Fairfield County, and days later manufacturer ITT Inc. said it would move its central office from White Plains to Stamford. Around the same time, iCapital Network, a financial technology platform, selected Greenwich as the site of a new office, where around 200 employees will be based.
 

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