Cantor Fitzgerald, an international financial services firm, is opening an office on Jacksonville’s Southside with plans to create 80 high-wage jobs. Based in New York, the company plans to use its Jacksonville office to handle some of the company’s securities processing activities.
Cantor Fitzgerald’s entrance to the Jacksonville region follows the nearshoring practices made by other banking leaders such as Deutsche Bank, Macquarie Group, Citi and Bank of America, who moved significant operations from expensive financial centers to the more affordable and business-friendly location of Northeast Florida. The majority of these relocated functions are in areas such as cybersecurity, payment processing, record maintenance and regulatory compliance.
Jacksonville has long been a top U.S. relocation city for financial institutions. Jacksonville Mayor Lenny Curry stated Cantor Fitzgerald’s “entry into our local market further enhances our city’s reputation as a premiere destination for the financial services industry.”