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Wednesday, October 6, 2021

Wood Sails Ark South

Reported by Neil Anderson, Managing Editor

Cathie Wood and her team are heading south, and not just for the winter.

Catherine "Cathie" Wood
ARK Investment Management, LLC
Founder, Chief Executive Officer
Today Wood (founder, CEO, and chief investment officer of Ark Investment Management LLC [profile]) confirms that on November 1 the New York City-based asset manager is relocating its headquarters to St. Petersburg, Florida, at 200 Central Ave. Wood also plans to launch an incubator there, called the Ark Innovation Center, which is expected to open in July of 2023. Ark's NYC office, meanwhile, will shutter permanently.

The seven-year-old, active ETF shop had $38.283 billion in ETF AUM as of September 30, according to ETF.com.

Wood lauds the "Tampa Bay region's talent, innovative spirit, and qualify of life." Jana Haines, Ark's new chief strategy officer, describes Tampa as "the top emerging technology city in the U.S."

"Ark is not a traditional Wall Street asset management firm, and we are looking forward to breaking the mold further by relocating to St. Petersburg, a city investing in technology, science, and innovation," Wood states. "Our relocation and the Ark Innovation Center will allow us to be more innovative and to impact the broader community while shining a spotlight on the technological advances and creativity permeating the Tampa Bay region."

"It offers a vast network of companies, universities, incubators, entrepreneurs, and many others dedicated to advancement," Haines states. 

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