Miami is new U.S. headquarters for Canada’s $254 billion asset management firm

A massive snowbird is landing in Miami.

CI Financial, which at $254 billion in assets is Canada’s largest wealth firm, is opening a 20,000 square foot office at 830 Brickell, Miami’s newest Class A office development.

“Miami is an incredible place to establish our U.S. headquarters and support our fast-growing U.S. business,” said Kurt MacAlpine, CEO of CI Financial, in a statement.

“It serves as the next logical step for our expansion plans as we work to build the leading wealth management platform in the country. In addition, Miami is a vibrant, multicultural city that offers a deep talent pool, an attractive location for recruiting and a very business-friendly environment. Locating at 830 Brickell puts CI at the heart of this dynamic city and its growing financial community.”

CI Financial is the third major tenant to announce a lease at 830 Brickell, joining tech giant Microsoft and tech-focused private equity firm Thoma Bravo. WeWork has also signed a lease at the downtown office tower slated to open next year.

Gov. Ron DeSantis, Miami-Dade Mayor Daniella Levine Cava and Miami Mayor Francis Suarez each put out statements welcoming the Canadian wealth giant.

“We are thrilled to welcome CI Financial to Florida,” DeSantis said. “Their move is the latest example of our welcoming business climate at work – something we continue to see from Miami to Pensacola. We appreciate CI Financial’s commitment to our state and wish them all the success.”

“We are thrilled to welcome one of Canada’s largest asset and wealth management firms to Miami-Dade County,” said Levine Cava. “This move is a testament to the ongoing efforts of The Miami-Dade Beacon Council and our thriving community that continues to attract a growing number of global firms in finance, tech and more.”

“CI Financial is the largest financial institution to ever place a headquarters in South Florida,” said Suarez. “The significance of this cannot be overstated and moves us further towards our goal to become the ’capital of capital.’ We thank Kurt MacAlpine, the board of directors, their executive team, and our own Venture Miami team for supporting their move to the City of Miami.”