Connecticut has emerged as a major hub for the financial industry in recent decades, especially for investment banks and hedge funds. Several factors make the state attractive to financial institutions, including its proximity to New York City, relatively low taxes compared to neighboring states, and affluent communities like Greenwich and Westport. As a result, many prominent investment banks and hedge funds have set up offices or headquarters in Connecticut.
Wall Street giants Goldman Sachs and Morgan Stanley operate key divisions out of Stamford and Westport
Two of the most prestigious investment banks in the world, Goldman Sachs and Morgan Stanley, have major presences in Connecticut. Goldman’s asset management and securities divisions are headquartered in Stamford. Morgan Stanley has offices in Stamford, housed within the corporation’s institutional services group division. Major hedge funds like Bridgewater Associates, the world’s largest hedge fund, are also based in Westport, Connecticut.
Citigroup maintains executive offices and trading operations in Greenwich
The Greenwich Capital Markets division of Citigroup, the multinational investment bank, operates out of the town of Greenwich. It engages in fixed income trading, including commodities, currencies, and securities. Many of Citigroup’s executive offices are also located in Greenwich.
AQR Capital Management, one of the world’s biggest hedge funds, has headquarters in Greenwich
Founded by hedge fund legend Cliff Asness, AQR Capital Management has grown into one of the largest hedge funds globally with over $130 billion in assets under management. The firm is headquartered in Greenwich and engages in quantitative investing across a wide range of asset classes.
UBS maintains its North American headquarters in Stamford
The Swiss banking giant UBS has its North American headquarters located in Stamford, Connecticut. From these offices, UBS conducts sales, trading, research, and investment banking activities across the US and Canada. The Stamford complex has been described as one of the largest trading floors in the world.
Several top global investment banks and hedge funds operate key divisions and headquarters from Connecticut, especially affluent towns like Greenwich and Stamford located close to New York City.