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New York, Houston, Dallas, Chicago, San Francisco, Boston, Philadelphia, Atlanta, Miami, Minneapolis.
I hope that's not supposed to be in order of importance...
Quote:
Originally Posted by adavi215
I wouldn't say that. Even of they're not that globally significant. If the other 5 contribute a nice degree to the financial service industry in America that still contributes to some degree to the global spectrum.
True...but there's only one or two places with any kind of significant presence in financial services. One surprise is Kansas City. I'd say it's probably the 6th or 7th most important in the country for financial services.
True...but there's only one or two places with any kind of significant presence in financial services. One surprise is Kansas City. I'd say it's probably the 6th or 7th most important in the country for financial services.
Yes, aside from the main point many people make--having a Federal Reserve Branch--my former company had its third or fourth largest base of operations (after Boston, NY/NJ and London) in Kansas City. If I'm not mistaken it's also home to many other major branch locations.
Yes, aside from the main point many people make--having a Federal Reserve Branch--my former company had its third or fourth largest base of operations (after Boston, NY/NJ and London) in Kansas City. If I'm not mistaken it's also home to many other major branch locations.
am curious your perception of Philly relative to KC. Not among the top centers (NYC/Bos/SF) but seems decent sized not sure where it would rank, would think in the top ten somewhere but not the dominant segment for the area by any means
Some banks and financial instutions, Vangaurd, SEI, large credit card activity and a pretty sizable insurance component (sort of in the segment in the way the cos work), a Fed center, Stock Excahnge etc.
am curious your perception of Philly relative to KC. Not among the top centers (NYC/Bos/SF) but seems decent sized not sure where it would rank, would think in the top ten somewhere but not the dominant segment for the area by any means
Some banks and financial instutions, Vangaurd, SEI, large credit card activity and a pretty sizable insurance component (sort of in the segment in the way the cos work), a Fed center, Stock Excahnge etc.
I'd say Philadelphia has to be between DC and KC. A great company like Vanguard is better than anything in KC (or DC and most other cities for that matter). There's also the fact that Philadelphia is so close to NYC, which hurts the city but also helps it.
While many financial institutions escape the high prices of Manhattan and flee to Fairfield County and Long Island, many others--such as Merrill Lynch--go to Northern and Central New Jersey. While the massive Merrill offices in Hopewell (Mercer County) don't technically fall into Philadelphia jurisdiction, it's a pretty large area of contention. I believe there are several other major NY companies with major ops in New Jersey too.
Overall, Philadelphia's influence doesn't quite match up to the Top 5 in the US, but I'd say it's the leader of the next tier which includes Philadelphia, Kansas City, Atlanta, and Minneapolis.
I'd say Philadelphia has to be between DC and KC. A great company like Vanguard is better than anything in KC (or DC and most other cities for that matter). There's also the fact that Philadelphia is so close to NYC, which hurts the city but also helps it.
While many financial institutions escape the high prices of Manhattan and flee to Fairfield County and Long Island, many others--such as Merrill Lynch--go to Northern and Central New Jersey. While the massive Merrill offices in Hopewell (Mercer County) don't technically fall into Philadelphia jurisdiction, it's a pretty large area of contention. I believe there are several other major NY companies with major ops in New Jersey too.
Overall, Philadelphia's influence doesn't quite match up to the Top 5 in the US, but I'd say it's the leader of the next tier which includes Philadelphia, Kansas City, Atlanta, and Minneapolis.
The Merrill facility is huge in Mercer county. Was originally going to be 4 miles South on I95 in Newtown in Bucks County PA. PA lost out when they would not redo the 95 interchange and NJ stole Merrill 4 miles away. This though is a perfect example of a simple 4 mile impact to which area claims the facility. And even commuter rate impact for MSA/CSA aligment. Without belaboring too much there is also a new Hospital right next store that just finished a fairly aggressive ad campaign on Philly TV and Radio because the patients it competes for are in the Philly market and not the NYC market. I spent half my youth about 5 miles from the Merrill facility on the PA side; know it well. The Merrill Facility far closer to Philly or Vangaurd than it is to Wall Street, maybe half the distance, especially time wise
There are quite a few in Jersey you are correct. Also New Castle County has a fair amount but more dominated by the credit industry
But agree on your points. Philly may be 6th or so but not the same as the others but maybe some seperation from the next group. Philly lands in this range on a few fronts, diversity has its good and bad parts I suppose
The Merrill facility is huge in Mercer county. Was originally going to be 4 miles South on I95 in Newtown in Bucks County PA. PA lost out when they would not redo the 95 interchange and NJ stole Merrill 4 miles away. This though is a perfect example of a simple 4 mile impact to which area claims the facility. And even commuter rate impact for MSA/CSA aligment. Without belaboring too much there is also a new Hospital right next store that just finished a fairly aggressive ad campaign on Philly TV and Radio because the patients it competes for are in the Philly market and not the NYC market. I spent half my youth about 5 miles from the Merrill facility on the PA side; know it well. The Merrill Facility far closer to Philly or Vangaurd than it is to Wall Street, maybe half the distance, especially time wise
There are quite a few in Jersey you are correct. Also New Castle County has a fair amount but more dominated by the credit industry
But agree on your points. Philly may be 6th or so but not the same as the others but maybe some seperation from the next group. Philly lands in this range on a few fronts, diversity has its good and bad parts I suppose
Yea one of my closest friends works in the Merrill offices (he resides at the Lambertville, NJ/New Hope, PA junction...god that area is absolutely gorgeous). It wasn't far from Philly whatsoever. The Philadelphia/NYC metro border remains to be one of the largest contention points on the site haha.
So Kansas City ranks higher than Charlotte? I'm not saying I disagree, but if there is a difference it's not by much. I would also say Philadelphia and Los Angeles hold some weight as well as Miami and Minneapolis. I also think Dallas is the financial capital of Texas.
So Kansas City ranks higher than Charlotte? I'm not saying I disagree, but if there is a difference it's not by much. I would also say Philadelphia and Los Angeles hold some weight as well as Miami and Minneapolis. I also think Dallas is the financial capital of Texas.
The problem with Charlotte being considered a financial center is that after the loss of Wachovia, it's more/less just Bank of America. While Bank of America is no doubt an enormous player in the financial services industry, its main financial services operations are done in New York City, Boston, and San Francisco.
Miami, while home to many international banks, doesn't really have much financial services activity.
I would agree that Dallas is the financial services capital of Texas.
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