Capital Group Expands New York City Operations

Area Development News Desk

08/14/2026

Asset management firm Capital Group plans to expand its operations in New York City. The approximately $38 million project is expected to create 200 jobs over five years.

The investment will include the lease and build out of approximately 50,000 square feet of additional office space in Manhattan.

“This investment reflects our conviction that strong, human-centered partnerships matter, and that now is the right time to lean into one of our greatest strengths. As a private company, when others are stepping back, we’re prioritizing talent and long-term client needs,” said Matt O’Connor, CEO of Capital Group’s Client Group. “We’re focused on delivering two primary services to our advisors, solutions that can provide superior investment results over the long-term and true business partnership.”

To support the project, Empire State Development has offered Capital Group up to $3 million in performance-based Excelsior Jobs Program tax credits tied to the company’s job creation commitments.

“Under Governor Hochul’s leadership, New York continues to strengthen its position as the nation’s financial capital and a leading destination for high-growth investment firms,” noted Empire State Development President, CEO and Commissioner Hope Knight. “Capital Group’s expansion reinforces that momentum by creating hundreds of high-paying jobs and investing in additional office space in Manhattan, helping drive continued economic opportunity in one of New York’s most important industries.”

Capital Group provides investment services to individuals, financial intermediaries and institutions.

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