Some businesses are expanding into New York. Two of note are Toronto-investment bank Canaccord Genuity Group Inc. and skincare company Glossier.
With its upcoming expansion and move Canaccord will be able to offer its Latin American institutional clients access to global markets, providing equity and fixed-income sales and trading. According to new MD of the firm, Alejandro Rebelo, the reasoning behind this move is clear: “Latin America fund managers are treated like kings in their own nations, but aren’t big enough to get all the attention needed from large international banks.”
Further, this will provide Canaccord with more revenue within the firm’s US securities umbrella. And as Global Head of Sales and Trading Mark Whaling said, staff there will comprise “largely U.S. equities focused, but also will do business in options and fixed income, which represent about 20 percent of their revenue base.”
NYC will also now be home to Glossier, with the added benefit of 200 more jobs at the company’s new headquarters. Located at One SoHo Square, 161 6th Avenue, Glossier in 2017 was named one of the Top 50 Most Innovative Companies in 2017 by Fast Company Magazine.