Business & Tech
ESL Investments Relocates From Greenwich to Miami
In a memo released Monday, the firm, run by billionaire Edward Lampert, notified investors that it had relocated to Miami, according to a report in The Republic.
In a major blow to the local economy — as well as 's ego — $9 billion private investment hedge fund ESL Investments has reportedly relocated its headquarters to Florida.
In a memo released Monday, the firm, run by billionaire and longtime Greenwich resident Edward Lampert, notified investors that it had moved to Miami, according to a report in The Republic.
A company spokesman reportedly declined to tell reporters why the firm left Connecticut or how many people it employed at its Greenwich Avenue headquarters.
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No word yet on whether Lampert plans to put his $25 million home on Field Point Circle on the market. He reportedly bought a $40 million, 17,000-square-foot mansion on a private island on Biscayne Bay, near Miami.
In a related development, ESL Investments President William C. Crowley has reportedly stepped down after deciding not to move with the firm.
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Crowley, 54, had served as ESL's president and chief operating officer since January 1999, according to a report on sfgate.com.
