Marathon CEO Cites NYC Costs, Covid, Crime for New Miami Outpost

Marathon Asset Management is setting up an office in Miami as the Covid-19 pandemic upends New York City as a financial hub, according to co-founder and Chief Executive Officer Bruce Richards.

“Marathon South will be an option for our employees,” Richards said in an interview on Bloomberg Television Wednesday. The Miami office will mainly be for non-investment professionals and the investing team will remain in New York, he said.

“I’m certainly committed to New York City,” Richards said. “I love New York City.” But he sees cities like Atlanta, Nashville and Charlotte benefiting from travel and business in the ...