Updates story with sourcing and details
Oct 21 (Reuters) – Elliott Management Corp, one the world’s busiest activist investors, plans to open two new offices – one in Florida and one in Connecticut – to give staff more flexibility when the threat of COVID-19 ebbs and employees return to the office, a source said on Wednesday.
Paul Singer’s $41 billion hedge fund will keep its office in midtown Manhattan and add two new locations in West Palm Beach, Florida and Greenwich, Connecticut at some point next year, the person who was not authorized to speak about the private firm’s plans said. Elliott, which employs 466 people, also has offices in London, Hong Kong, Tokyo, and Menlo Park, California.
The move was driven largely by the pandemic which forced most Wall Street firms to shutter their headquarters in high-rise office buildings earlier this year and direct staff to work remotely.