Exclusive | Here's where big Wall Street firms are moving as NYC looks poised to elect a socialist mayor
James Franey
5–7 minutes
As Wall Street faces the prospect of left-wing firebrand Zohran Mamdani becoming the city’s next mayor, a fast-growing business hub down south is beckoning.
Dallas — whose grab bag of major business moguls has included Ross Perot, Mark Cuban and Jerry Jones — has more recently become a major draw for big financial firms that were born and raised in the Big Apple.
Goldman Sachs is building an 800,000-square-foot, $500 million campus in Dallas. It’s set to open in 2028 and consolidate over 5,000 employees. Last year, the mega bank hired Robert Kaplan, the former president of the Federal Reserve Bank of Dallas, as its vice chairman.
Meanwhile, JPMorgan Chase now employs 31,000 in Texas — more than its 24,000 staffers in New York. That’s despite the fact that the bank just opened a $3 billion Park Avenue headquarters designed by British superstar architect Norman Foster.
“It shouldn’t have been that way, but Texas loves you being there,” CEO Jamie Dimon told Bloomberg in 2023.
Two years later, Wall Street is feeling less love than ever from the Big Apple, as voters are poised to elect a Uganda-born mayoral candidate who has long dabbled in “defund the police” rhetoric and who has pledged to raise taxes on the wealthy.
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https://nypost.com/2025/11/03/business/heres-where-big-wall-street-firms-are-moving-as-nyc-looks-poised-to-elect-a-socialist-mayor/
