Bowman Brown, Chairman of Shutts & Bowen’s Executive Committee and Practice Group Leader of its Financial Services Practice Group, was quoted in two articles MiamiToday which discuss the current financial market.
In “Sophisticated Professionals Flood in with Hedge Fund Firms,” the publication discusses how Miami’s Downtown Development Authority and other business entities have made a conscious effort to attract hedge funds and other financial services firms to the area. “High tax rates in New York, Illinois, Connecticut, New Jersey and California have driven hedge fund and private equity firms to South Florida,” states Brown. This has created a huge impact on sophisticated financial professionals who are moving to South Florida substantially increasing economic activity.
In the next article, titled “Property, Commercial Vehicles Insurance Costs Likely to Soar,” Brown discusses the commercial insurance market in South Florida becoming tighter. “The risk of sea-level rise due to climate change and substantial government-mandated flood insurance rate increase, have made commercial insurance, particularly flood insurance, increasingly more expensive.”
About Bowman Brown
Bowman Brown is Chairman of the Executive Committee and the Financial Services Practice Group of Shutts & Bowen LLP. Bowman has been named in Best Lawyers in America® every year since 1983. He is currently listed in five areas: Banking Law, Corporate Law, Insurance Law, International Trade and Financial Law and Mergers & Acquisitions Law. He was named by Chambers USA – America’s Leading Lawyers for Business 2005 as a “dean of the bank regulatory world – if you want to set up in Florida, he’s your guy.” He has been named by Chambers USA every year since 2007 as the only Florida banking and finance lawyer to receive Chambers’ highest rating — the “Star Individual” designation. In 2015, he earned Martindale-Hubbell’s highest rating for legal ability and ethical standards. In 2016, he was the only lawyer listed by the Expert Guide for Florida and the region south of Washington, D.C. in Banking, Finance and Transactional Law.