The world’s top financial services and insurance companies call New York State home
New York is a global financial capital — home to many of the world’s leading commercial and investment banks; securities brokers and dealers; and diversified financial services, venture capital and insurance companies. From front-office executive, trading and client relationship offices to back-office analytics, IT infrastructure, claims processing, and technical support operations, New York has the workforce and infrastructure to make businesses successful.
Key facts
New York has a long history with the finance and insurance industries that continues to evolve with the ever-changing nature of the business. Here’s how New York helps these industries grow:
- New York State’s highly educated workforce and low operating costs have attracted world-class companies like GEICO, BNYMellon, Travelers Insurance, Chase and Citi to establish professional back-office operations throughout upstate New York.
- 54 Fortune 500 companies have their headquarters in New York State — more than any other state.
- New York State will be investing $4.5 billion to grow the economy over the long term, positioning every region for growth and helping to ensure a strong local base of borrowers, lenders and insurance clients, as well as a stable workforce.
Fintech Makes Its Mark
Almost a decade ago, a Brooklyn wine store owner – frustrated by not having the technology to manage sales and inventory for a business of his size — decided to create a...
Fintech Makes Its Mark
Almost a decade ago, a Brooklyn wine store owner – frustrated by not having the technology to manage sales and inventory for a business of his size — decided to create a...
An ideal spot for your headquarters — and your back office
While major financial and insurance firms may think of New York City first for their headquarters, it’s less well-known that the rest of the state can offer significant benefits for your back-office operations, including low operating costs and a highly educated workforce.
That favorable business climate led GEICO to expand its service center operations in Western New York in 2016, adding 600 full-time jobs. New York State will provide $4 million in capital grants to support this expansion.