Greenwich-based AQR to Expand, Add Up to 600 CT Jobs

GREENWICH, CT—Greenwich-based AQR Capital Management announced that it plans to expand its operations and headquarters in the state over the next 10 years.

The move will retain 540 jobs and create up to 600 new jobs, said Gov. Dannel Malloy.

"Fueling growth in our core industries is one of the keys to our state's long-term economic success," he said. "Connecticut is a financial services and technology innovation leader, and firms like AQR - and the good-paying jobs they create - are demonstrating that our state is moving forward in ways that will be a great economic development boost for the region."

AQR was founded in 1998 in New York and moved to Connecticut in 2004. Its headquarters are located in Greenwich and it has a data center in Trumbull.

"We have found Fairfield County to be a desirable location to base our firm and the quality of professionals we attract is outstanding," John Howard, Principal and Chief Financial Officer at AQR Capital Management, said. "We look forward to working with the State of Connecticut to further expand AQR's positive economic contribution in the state.

The Department of Economic and Community Development will provide up to $28 million in loans and up to $7 million in grants as part of its First Five program. Funding is dispersed as the company reaches certain job creation and retention milestones.

"First Five has been an important tool in growing Connecticut's economy, and our partnership with AQR Capital Management just reaffirms the state's commitment to growing jobs and attracting capital investments to strengthen our position as a financial hub," DECD Commissioner Catherine Smith said.