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This conversation with Shirl Penney was originally published in the 2021 Downtown Development Guide.
President & CEO, Dynasty Financial Partners
I moved down to St. Pete in April of 2019 after an 18-month search process for a new home for my firm, my business partners and my family. We moved Dynasty’s HQ from Midtown Manhattan, where we founded the business 10 years ago, to DTSP. We looked at every ‘hot’ city up and down the East coast for fast-growing companies, narrowed it down to 6 finalists, and ultimately chose St. Petersburg as the standout winner. Everything from the community, climate, walkability, ease of transportation/travel, talent availability, real estate and strength of the local financial services sector were among the many factors we considered. We truly got a community ‘bearhug’ from the Mayor’s office, EDC, Downtown Partnership and other local business leaders.
The number one highlight is talent – both legacy and new. For our legacy employees, this is a much better environment when juxtaposed to Manhattan. Above and beyond the tax advantages, you look at the improvements in commute, walkability, weather, real estate options, child-friendly activities, community engagement, etc. For new employees, we have been very pleased with both the availability and quality of talent local to St. Pete. We have hired aggressively since moving to St. Pete, even accelerating through the pandemic, and have seen great additions to our culture from right here in town. Another huge positive is how much our community of clients
love coming to visit us now that we’re in St. Pete. As one of the largest independent wealth management firms in the U.S., it has been an easily accepted invite for prospects and clients to come visit our St. Pete HQ.
I moved to St. Pete with my wife, Mary Ann, and our two daughters. We love the walkability of the city – from watching the dolphins along the wall in Vinoy Park to taking a stroll down Beach Dr and the Pier, we are out and about almost every evening. Beyond that, our two girls are accomplished junior athletes – St. Pete brings both the weather and facilities for them to engage with their sports year-round, as well as a slew of high-caliber professional sports teams for them to root for and be inspired by. Go Rays!
My day typically starts with a walk with my wife from our home downtown before heading to Craft Kafe for a cold brew and heading up to Dynasty’s office in 200 Central. As with many CEOs at fast-growing companies, my days are long – however, they are a lot more palatable with a view out over the Bay watching the planes come in at Albert Whitted vs the concrete jungle of Midtown Manhattan. I love the local restaurant/bar scene and look to try a new spot every couple weeks. My most recent favorite is Urban Stillhouse – love what those guys are doing!
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