Summary
Zohran Mamdani is the mayor-elect of New York City, known as a major financial center. Recently, many financial firms moved their headquarters out of New York, leading to job growth in other states like Texas and Florida. Despite this, New York's securities industry remains highly profitable.
Key Facts
- Zohran Mamdani will soon be the mayor of New York City.
- Over 150 financial firms moved their headquarters from New York between 2020 and 2023.
- Texas gained the most finance jobs during this period, while New York lost many.
- Florida closely followed New York in gaining finance jobs.
- New York is still very profitable, with securities industry profits set to reach $60 billion.
- JPMorgan Chase opened a new office in Manhattan but employs more people in Texas.
- New financial centers like "Wall Street South" in Florida and Texas Stock Exchange have gained popularity.
