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Front Page » Business & Finance » Downtown Has 3 Financial Firms On Hook

Downtown Has 3 Financial Firms On Hook

Written by on July 25, 2013

By Catherine Lackner
Continuing their quest to bring financial services firms as office tenants in Miami’s core, representatives of Miami’s Downtown Development Authority traveled to Connecticut last month, following a visit to New York City in May.

“The DDA presented to more than 200 firms combined in New York and Connecticut,” Sonja Bogensperger, authority senior manager of marketing and business development, told the authority’s board of directors Friday.

Fifty of these were hedge funds, and there were a number of private equity firms, she added. The introductions were fruitful, she said, and more meetings are planned for September and December.

“In Connecticut, they were significantly more interested than in New York,” said Marc Sarnoff, board chairman and Miami commissioner. “I didn’t get the warm fuzzy feelings in New York, but in Connecticut, they were really interested.” The authority is in active talks with three firms, he said.

“Their circle of influence is enormous,” said board member Alicia Cervera, managing partner of Cervera Real Estate. “I’d like to get some feedback.”

As one of only a handful of states that doesn’t levy a personal income tax, Florida is attractive to people with high net worth, and by extension, to their advisors. But Mr. Sarnoff said a key attraction for the Connecticut firms is Art Basel Miami Beach, the hemisphere’s more prestigious art event. “So maybe the art is the art,” he observed.

Board member Nitin Motwani, who is managing director of Miami Worldcenter Group LLC, accompanied Ms. Bogensperger and Mr. Sarnoff on the trip. “Nitin is an amazing presenter,” Mr. Sarnoff said. “He was like an orchestra leader, and they all know him there.

“I strongly urge you to get involved” in bringing in financial services companies, a clean industry with high-paying jobs, he told board members. “We’ve got to put our best foot forward.”To read the entire issue of Miami Today online, subscribe to e-MIAMI TODAY, an exact digital replica of the printed edition.