By Alan Steinberg | December 17, 2020, 5:53 pm | in Columnist
In the midst of a maelstrom of political and Coronavirus news in New Jersey and the metropolitan New York region, one recent event of major significance has remained surprisingly ignored in the Garden State. I speak of the news earlier this month, reported extensively in the New York political and business media, that Goldman Sachs is considering moving one its major divisions, specifically its asset management unit to South Florida.
To be sure, Goldman Sachs has no plans to move its core business, namely its famed trading and investment banking divisions away from Wall Street. Still, Goldman Sachs is a leading player in asset management, managing $1.46 trillion as of the end of the third quarter, up 19% from a year earlier. A move of this division from New York would have a major economic and psychological impact on both Manhattan and the New York Metropolitan are