Zohran Mamdani wins Wall Street’s cautious backing
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Heavyweights of the financial world spent millions to elevate other candidates in the New York City mayoral race.
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Here’s where big Wall Street firms are moving as NYC looks poised to elect a socialist mayor
As Wall Street faces the prospect of left-wing firebrand Zohran Mamdani becoming the city’s next mayor, a fast-growing business hub down south is beckoning.
NEW YORK >> Wall Street is on edge heading into the New York City mayoral election on Tuesday, with a potential victory for Zohran Mamdani set to reverberate through the heart of global capitalism, where financiers worry about the city’s lasting competitiveness and appeal.
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Wall Street braces for NYC mayoral vote; Democrat wins in Virginia offers day's first insight
By Lewis Krauskopf, Davide Barbuscia and Laura Matthews NEW YORK (Reuters) -Wall Street was on edge heading into the New York City mayoral election on Tuesday, with a potential victory for Zohran
Major financial services firms such as Goldman Sachs, JPMorgan Chase, and Wells Fargo have expanded operations in Dallas, Texas, where the firms have thousands of workers.
Democrat Zohran Mamdani has been elected mayor of New York City, defeating fellow Democrat Andrew Cuomo and Republican candidate Curtis Sliwa in a closely watched three-way race. Mamdani, a state assembly member representing Queens, secured a decisive victory built on promises of affordable housing, labor rights and expanded social programs.
Wall Street and the finance industry have broad misgivings about the prospect of frontrunner Zohran Mamdani becoming New York City's mayor, but many are hopeful he moderates his positions as they prepare to try and work alongside him.
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