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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.
Yeah, some people are strangely snobby against banking and they dismiss actual HQs as irrelevant.
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.
While Charlotte has lost the Wachovia HQ most of the operations are still here. For wxamolelot of securities trading on the East Coast for Wells Fargo happens in Charlotte. You also have several private equity firms doing business in the area. I'm not saying it's more than Kansas City but just saying Charlotte is more than HQ for banks. I read about Kansas City's financial service industry and it is quite impressive.
While Charlotte has lost the Wachovia HQ most of the operations are still here. For wxamolelot of securities trading on the East Coast for Wells Fargo happens in Charlotte. You also have several private equity firms doing business in the area. I'm not saying it's more than Kansas City but just saying Charlotte is more than HQ for banks. I read about Kansas City's financial service industry and it is quite impressive.
Fair enough. I wasn't saying there is zero financial services activity in the city...just that while Charlotte is definitely a powerful banking city, the majority of it is in the form of consumer banking. The financial services are then usually handed off to operations in NYC or Boston.
Quote:
Originally Posted by 18Montclair
Yeah, some people are strangely snobby against banking and they dismiss actual HQs as irrelevant.
LOL
Didn't you say you worked in the finance industry? You should know that banking and financial services aren't necessarily the same thing.
Fair enough. I wasn't saying there is zero financial services activity in the city...just that while Charlotte is definitely a powerful banking city, the majority of it is in the form of consumer banking. The financial services are then usually handed off to operations in NYC or Boston.
Didn't you say you worked in the finance industry? You should know that banking and financial services aren't necessarily the same thing.
I didn't think you were saying no activity happens in Charlotte nor do I want to foolishly say that Charlotte is significant in other factors. My aim was simply to point out that that Charlotte is much more than just banking. Also, the financial crisis of 2008-2009 actually helped Charlotte. Many execs who lost their jobs started their own financial consulting and private equity firms. Probably because they couldn't sell their homes due to the real estate market. So in a sense it helped. Now, on the national stage I don't know where Charlotte stands. Furthermore, I'm not sure if Charlotte is in the top 10. Also, I think its interesting to note as far as banking and financial services ho Charlotte might have an even playing field with Atlanta.
I also think Dallas is the financial capital of Texas.
Quote:
Originally Posted by tmac9wr
I would agree that Dallas is the financial services capital of Texas.
How are these Financial services calculated?
San Antonio has three large banks headquartered there and has more deposits in its banks than there are in Dallas banks.
how does the fed reserve fit in to the calculation.
In Terms of assets, Dallas isn't leading either.
Top banking institutions in Texas by Deposits (Over 5B)
1. USAA- San Antonio
2. Comerica- Dallas
3. Wells Fargo Bank South Central-Houston
4. Frost National- San Antonio
5. Amegy Bank- Houston
6. Prosperity Bank- Houston
7. INt Bank of Commerce- Laredo
8. Texas Capital bank- Dallas
Info from the FDIC
Kansas City doesn't have as many deposits as any of those cities. Charlotte on the other hand has more than all of them combined
Last edited by HtownLove; 02-29-2012 at 06:21 PM..
How are these Financial services calculated?
San Antonio has three large banks headquartered there and has more deposits in its banks than there are in Dallas banks.
how does the fed reserve fit in to the calculation.
In Terms of assets, Dallas isn't leading either.
Top banking institutions in Texas by Deposits (Over 5B)
1. USAA- San Antonio
2. Comerica- Dallas
3. Wells Fargo Bank South Central-Houston
4. Frost National- San Antonio
5. Amegy Bank- Houston
6. Prosperity Bank- Houston
7. INt Bank of Commerce- Laredo
8. Texas Capital bank- Dallas
Info from the FDIC
Kansas City doesn't have as many deposits as any of those cities. Charlotte on the other hand has more than all of them combined
Deposits = Consumer Banking
Financial services can range from a wide variety things such as asset/investment management, private equity, venture capital, mergers & acquisitions, insurance, forex, etc.
I was under the impression that Dallas was the biggest in Texas since they have a branch of the Fed and I thought that they had a pretty healthy private equity area too (mainly due to the mammoth that is TPG Capital).
Financial services can range from a wide variety things such as asset/investment management, private equity, venture capital, mergers & acquisitions, insurance, forex, etc.
I was under the impression that Dallas was the biggest in Texas since they have a branch of the Fed and I thought that they had a pretty healthy private equity area too (mainly due to the mammoth that is TPG Capital).
I think it may end up being the biggest in Texas but looks like not much bigger than the other two, and a bit smaller than many other areas in the country.
SA is not only big in Texas for Banking assets and deposits, they also do well in insurance, Retirement Financial planning, Investment....
Being biggest in Texas doesn't mean as much as people make it out to be. Texas is a large state but things are often split 3, 4 , 5 ways, etc. Places like ATL have the advantage of having the Reserve and huge banks like Suntrust (which is three times as large as Comerica by the way) in addition to the Insurance and other stuff while lacking the competition from other large metros.
Dunno where you would rank the two but I think ATL would be higher than Dallas. Charlotte too. Kansas City, I would actually rank lower.
As tmac was saying this is so much more than bank deposits. Otherwise cities like Winston-Salem and Birmingham would be included. This is more. Financial activities.
As tmac was saying this is so much more than bank deposits. Otherwise cities like Winston-Salem and Birmingham would be included. This is more. Financial activities.
exactly. That is why places like Minn StP, Atlanta, Miami, Pittsburgh, Cleveland, etc would rank high overall.
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