(Reuters) – Paul Singer’s hedge fund Elliott Management Corp plans to move its headquarters to Florida from Midtown Manhattan, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Singer’s co-chief investment officer and expected successor, Jon Pollock, owns a home near West Palm Beach and has been living there during the COVID-19 pandemic, the report said.
The move by Pollock, as well as several other senior employees, played a big role in the decision to shift the headquarters, the report added.
Elliot is the latest financial executive, including billionaire hedge fund managers Paul Tudor Jones and David Tepper, and activist investor Carl Icahn, who are decamping from the Northeast for Florida which boasts lower taxes.
It is unclear how many of the firm’s hundreds of employees will choose to move south, but Elliott will continue to employ hundreds of people in its Manhattan offices, Bloomberg said.
Elliot Management did not immediately respond to a request for comment.
(Reporting by C Nivedita in Bengaluru; Editing by Bernard Orr)