Bloomberg reported in May that ARK’s employees aren’t your typical Wall Street crowd. About a quarter of ARK’s staff of about 35 at the time were people of color, including the chief financial officer and chief compliance officer. A third are women, and most are younger than 35.
As Wall Street grapples with its return to the office, ARK said its “hybrid back-to-work model” will allow some employees to work remotely. Still, a “substantial” number of the firm’s staff have chosen to relocate, according to the statement.
“Taxes in New York City make this a very logical move,” said James Seyffart, an ETF analyst at Bloomberg Intelligence. “It’s basically Tampa, so it’s not like they’re going to the middle of nowhere. But of course, then you’re not living in New York City -- I’m sure some people aren’t happy.”
This article was provided by Bloomberg News.