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June 24, 2021

NYC financial tech firm to open Greenwich office, add 200 jobs

Photo | Two Greenwich Plaza Two Greenwich Plaza, where iCapital plans to set up its Connecticut branch.

A New York City-based financial technology company is opening a new office in Greenwich and plans to add 200 jobs there over the next two years, Gov. Ned Lamont announced Thursday.

iCapital Network, which describes itself as a financial platform centered on alternative investing, plans to open a branch this fall at Two Greenwich Plaza, an office complex situated just off of Interstate 95 and adjacent to Greenwich’s Metro-North train station. The company said it is actively recruiting workers for the new site as it looks to fill technology, finance, client service, legal and compliance positions.

“We are excited to welcome iCapital to Connecticut, and I congratulate them on their decision to invest and grow in our state,” Lamont said. “This is more validation that our approach to growth and economic development is working, as we’re seeing more companies take a second look at our state and decide that it is an ideal environment for them to grow and thrive.”

According to state officials, the Department of Economic and Community Development will support the expansion with “earn-as-you-grow” incentives, providing grants in arrears as job targets are reached. They did not immediately say how much money they have set aside for those grants.

Formed in 2013, iCapital services approximately $75 billion in global client assets. It has around 450 employees at offices in New York City, London, Lisbon, Zurich and Hong Kong.

“When we considered locations for the expansion of our domestic footprint, Connecticut was the obvious choice,” said Chairman and CEO Lawrence Calcano. “I respect the governor’s commitment to bringing top-tier employers and good jobs to Connecticut and supporting entrepreneurship in innovative sectors that will drive economic growth.”

iCapital’s announcement marks the state’s second major corporate vote of confidence in just the last week.

On Tuesday, tobacco giant Philip Morris International revealed it is relocating its central headquarters from New York to lower Fairfield County, bringing around 200 jobs to the area.

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