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.

$7.4

TRILLION

held by New York State financial and insurance institutions

#1

in the USA for Fortune 500 HQs

9,800+

insurance companies call New York home

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. 

Industry Contact
 

Steve Gold
Vice President, Industry Development; Financial Services & Insurance
  • Financial Services and Insurance
(212) 803-3133