Top 11 Largest Financial Service Companies in North America

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In this post, let's examine some of the largest financial service companies in North America, ranked by market capitalization. Go directly to other related ... read more...

  1. Top 1

    Visa

    The corporate headquarters of the American financial services giant Visa Inc. are in San Francisco, California. It enables electronic money transfers all across the world, most frequently using Visa-branded prepaid, debit, and credit cards. One of the most valuable firms in the world is Visa.


    Visa instead supplies financial institutions with payment solutions bearing the Visa name, which they can use to provide their clients with credit, debit, prepaid, and cash access programs. Visa does not actually issue cards, grant credit, or set rates and fees for consumers. According to the 2015 Nilson Report, which monitors the credit card industry, Visa's global network (also known as VisaNet) handled 100 billion transactions in 2014, totaling US$6.8 trillion.


    Bank of America (BofA) established Visa in 1958 as the BankAmericard credit card program. In 1966, BofA started issuing licenses for the BankAmericard program to other financial institutions in response to rival Master Charge (now Mastercard). In order to handle the BankAmericard program, BofA formed a cooperative with the other various BankAmericard issuer banks in 1970, giving up direct control of the program. In 1976, it was renamed Visa.


    The market capitalization of Visa as of March 2023 is $458.50 billion. By market cap, Visa is now the 12th most valuable firm in the world. The most recent financial reports from Visa indicate that the company's current revenue (TTM) is $30.18 billion. The corporation generated $25.47 billion in revenue in 2021, an increase over the $21.47 billion it generated in revenue in 2020.


    Founded: September 18, 1958
    Headquarters: One Market Plaza, San Francisco, California, U.S.
    Website: visa.com

    Screenshot via visa.com
    Screenshot via visa.com
    Screenshot via visa.com
    Screenshot via visa.com

  2. Top 2

    JPMorgan Chase

    JPMorgan Chase & Co. is a Delaware-incorporated American global financial services corporation with its corporate headquarters in New York City. By market capitalization, it is the biggest bank in the US and the biggest bank globally (as of 2023). The Financial Stability Board views the company as having systemic importance because it is the largest of the Big Four banks.


    Due to its size and scope, regulatory control has been strengthened, and a fortress balance sheet of capital reserves is kept on the inside. The company will move into the JPMorgan Chase Building, which is currently under development, in 2025 from its current location at 383 Madison Avenue in Midtown Manhattan.


    JPMorgan Chase's market value was $374.21 billion as of March 2023. JPMorgan Chase is now the 18th most valuable firm in the world according to market cap. The most recent financial reports from JPMorgan Chase indicate that the company's current revenue (TTM) is $128.64 billion. The corporation generated $121.68 billion in revenue in 2021, a rise from $119.53 billion in revenue in 2020.


    Founded: December 1, 2000
    Headquarters: 383 Madison AvenueNew York City, U.S.
    Website: jpmorganchase.com

    Screenshot via jpmorganchase.com
    Screenshot via jpmorganchase.com
    Screenshot via jpmorganchase.com
    Screenshot via jpmorganchase.com
  3. Top 3

    Mastercard

    In 2019, Mastercard Corporation, a listed payment service provider with headquarters in Purchase, New York, employed about 18,600 employees. One of the two principal international firms for payment cards, together with VISA, is Mastercard (credit cards, debit cards, and prepaid cards).

    For the production of their cards and the hiring of contractors, Mastercard grants licenses to banks all over the world (acquiring licenses). Almost 35 million contracting businesses accept Mastercard, and there are about a million cash payment offices worldwide (as of 2014).

    MasterCard
    's market capitalization as of March 2023 is $332.98 billion. By market cap, this places Mastercard as the 20th most valuable firm in the entire globe. The most recent financial reports from Mastercard indicate that the company's current revenue (TTM) is $22.23 billion. The corporation generated $18.88 billion in revenue in 2021, a rise from $15.30 billion in revenue in 2020.

    Founded: 1966
    Headquarters: 2000 Purchase Street, Purchase, New York, U.S.
    Website: mastercard.com

    Screenshot via mastercard.com
    Screenshot via mastercard.com
    Screenshot via mastercard.com
    Screenshot via mastercard.com
  4. Top 4

    Bank of America

    The Bank of America Corporation, also known by the acronyms BofA or BoA, is a multinational American investment bank and financial services holding firm with headquarters in Charlotte, North Carolina. Investment banking and auxiliary headquarters are located in Manhattan. San Francisco, California, is where the bank was established.

    After JPMorgan Chase, it is the second-largest bank in the United States and, according to market value, the second-largest bank worldwide. One of the Big Four U.S. financial organizations is Bank of America. It competes directly with JPMorgan Chase, Citigroup, and Wells Fargo for roughly 10.73% of all bank deposits in the United States. Commercial banking, wealth management, and investment banking are its three main financial services.

    Founded: 1998
    Headquarters:

    • Corporate: Bank of America Corporate Center100 North Tryon StreetCharlotte, North Carolina 28202U.S.
    • Investment banking and auxiliary:Bank of America Tower1111 Avenue of the AmericasNew York, NY 10036U.S.

    Website: bankofamerica.com

    Screenshot via bankofamerica.com
    Screenshot via bankofamerica.com
    Screenshot via bankofamerica.com
    Screenshot via bankofamerica.com
  5. Top 5

    Morgan Stanley

    The corporate headquarters of the global American financial services and investment management firm Morgan Stanley is located at 1585 Broadway in Midtown Manhattan, New York City. Clients of the company, which has offices in 41 nations and employs more than 75,000 people, include businesses, governments, institutions, and individuals. On the 2021 Fortune 500 list of the biggest American companies by total revenue, Morgan Stanley came in at number 61.

    On September 16, 1935, the first Morgan Stanley was established by J.P. Morgan & Co. partners Henry Sturgis Morgan (J.P. Morgan's grandson), Harold Stanley, and others in response to the Glass-Steagall Act, which mandated the division of American commercial and investment banking firms. The company has a 24% market share (about US$1.1 billion) in its first year of operations for public offerings and private placements.

    Morgan Stanley
    's market value was $148.88 billion as of March 2023. By market cap, Morgan Stanley is now the 72nd most valuable corporation in the world. The most recent financial reports from Morgan Stanley indicate that the company's current revenue (TTM) is $50.21 billion. The corporation generated $56.41 billion in revenue in 2021, an increase from $45.26 billion in revenue in 2020.

    Founded: 1935
    Headquarters: Morgan Stanley BuildingNew York City, New York, U.S.
    Website: morganstanley.com

    Screenshot via morganstanley.com
    Screenshot via morganstanley.com
    Screenshot via morganstanley.com
    Screenshot via morganstanley.com
  6. Top 6

    Wells Fargo

    An American multinational financial services firm called Wells Fargo & Company has its corporate headquarters in San Francisco, California, its operational headquarters in Manhattan, and managerial offices all over the world. With operations in 35 countries and more than 70 million customers worldwide, the corporation The Financial Stability Board regards it as a systemically important financial institution. In 1998, the old Wells Fargo & Company and the Minneapolis-based Norwest Corporation merged to form the current Wells Fargo.

    Even while Norwest was technically still in business, the merged company used the more recognizable Wells Fargo moniker and relocated to Wells Fargo's headquarters in San Francisco. At the same time, its banking division merged with the Sioux Falls-based banking division of Wells Fargo. With the purchase of Charlotte-based Wachovia in 2008, Wells Fargo established itself as a coast-to-coast bank.

    Wells Fargo
    's market value was $141.56 billion as of March 2023. By market cap, Wells Fargo is now the 77th most valuable firm in the world. The most recent financial reports from Wells Fargo indicate that the company's current revenue (TTM) is $73.78 billion. The corporation generated $78.02 billion in revenue in 2021, a rise from $72.34 billion in revenue in 2020.

    Founded: January 24, 1929
    Headquarters:

    • San Francisco, California, U.S. (corporate)
    • New York, NY (operational)

    Website: wellsfargo.com

    Screenshot via 	rbc.com
    Screenshot via rbc.com
    Screenshot via wellsfargo.com
    Screenshot via wellsfargo.com
  7. Top 7

    Royal Bank Of Canada

    According to market capitalization, Royal Bank of Canada is the biggest bank in Canada and an international provider of financial services. With more than 89,000 employees worldwide, the bank serves more than 17 million customers. It was established in Halifax, Nova Scotia, in 1864, and now has offices in both Toronto and Montreal. The institution ID for RBC is 003. RBC was included on the Financial Stability Board's list of internationally significant banks in November 2017.

    With 1,209 branches across Canada, the bank's personal and business banking divisions are known as RBC Royal Bank in English and RBC Banque Royale in French, and they provide services to about 10 million customers. Formerly operating 439 branches in six states in the Southeastern United States, RBC Bank is a US banking affiliate that now exclusively provides cross-border banking services to Canadian tourists and expatriates. City National Bank, another US subsidiary of RBC, runs 79 locations in 11 US states.


    Moreover, RBC has 127 locations that serve more than 16 million customers spread across seventeen Caribbean nations. RBC Dominion Securities is the name of the investment brokerage company, while RBC Capital Markets is RBC's global investment and corporate banking division. RBC Bank also offers investment banking services, with a focus on clients in the middle market.


    The market capitalization of Royal Bank of Canada was $130.03 billion as of March 2023. By market cap, this places Royal Bank of Canada as the 90th most valuable company in the world. The most recent financial reports from Royal Bank of Canada show that the company's current revenue (TTM) is $38.54 billion. The company's revenue dropped from $39.67 billion in 2021 to $37.5 billion in 2022.

    Founded: 1864
    Headquarters: Montreal, Quebec, CanadaToronto, Ontario, Canada
    Website: rbc.com

    Screenshot via 	rbc.com
    Screenshot via rbc.com
    Screenshot via 	rbc.com
    Screenshot via rbc.com
  8. Top 8

    American Express

    With its headquarters in New York City, the American Express Corporation (Amex) is a multinational financial services company with a focus on credit and debit cards. It is among the 30 firms that make up the Dow Jones Industrial Average and one of the most valuable companies in the entire globe.

    The company's well-known traveler's checks, charge cards, and credit cards bear the gladiator or centurion that serves as the emblem, which was adopted in 1958. It maintains its corporate offices in the American Express Tower in the Lower Manhattan area of Battery Park City. They are the world's biggest supplier of traveler's checks.

    American Express
    's market capitalization as of March 2023 is $118.11 billion. By market cap, this places American Express as the 102nd most valuable firm in the world. The most recent financial reports from American Express indicate that the company's current revenue (TTM) is $52.56 Billion. The corporation generated $43.14 billion in revenue in 2021, an increase from $36.08 billion in revenue in 2020.

    Founded: March 18, 1850
    Headquarters: 200 Vesey StreetManhattan, New York City, NY 10285United States
    Website: americanexpress.com

    Screenshot via americanexpress.com
    Screenshot via americanexpress.com
    Screenshot via americanexpress.com
    Screenshot via americanexpress.com
  9. Top 9

    S&P Global

    S&P Global Inc., formerly known as McGraw Hill Financial, Inc. and The McGraw-Hill Companies, Inc. before April 2016, is a publicly traded American company with its headquarters in Manhattan, New York City. Analytics and financial information are its main business sectors.

    It is also the primary owner of the joint venture S&P Dow Jones Indices and the parent business of S&P Global Ratings, S&P Global Market Intelligence, S&P Global Mobility, S&P Global Engineering Solutions, S&P Global Sustainable1, and S&P Global Commodities Insights. The abbreviation "S&P" stands for "Standard and Poor's."

    S&P Global
    's market cap was $110.14 billion as of March 2023. S&P Global is now the 118th most valuable corporation in the world according to market cap. The most recent financial reports from S&P Global indicate that the company's current revenue (TTM) is $11.18 billion. The corporation generated $8.29 billion in revenue in 2021, an increase over the $7.44 billion it generated in revenue in 2020.

    Founded: 1917
    Headquarter: 55 Water Street, Manhattan, New York City, New York, U.S.
    Website: www.spglobal.com/en/

    Screenshot via www.spglobal.com/en/
    Screenshot via www.spglobal.com/en/
    Screenshot via www.spglobal.com/en/
    Screenshot via www.spglobal.com/en/
  10. Top 10

    Goldman Sachs

    American global investment bank and financial services provider Goldman Sachs With regional headquarters in London, Warsaw, Bangalore, Hong Kong, Tokyo, Dallas, and Salt Lake City, as well as additional offices in major global financial hubs, Goldman Sachs was founded in 1869 and has its main office at 200 West Street in Lower Manhattan.

    Goldman Sachs
    is the second-largest investment bank in the world by revenue and is listed as the 57th-largest American company by total revenue on the Fortune 500 list. The Financial Stability Board classifies it as a systemically important financial institution.


    Goldman Sachs' market capitalization as of March 2023 is $107.77 billion. By market cap, Goldman Sachs is now the 123rd most valuable firm in the world. The most recent financial reports from Goldman Sachs state that the company's current revenue (TTM) is $47.36 billion. The corporation generated $58.21 billion in revenue in 2021, a rise from $44.55 billion in revenue in 2020.

    Founded: 1869
    Headquarters: 200 West Street, New York City, New York, U.S.
    Website: goldmansachs.com

    Screenshot via goldmansachs.com
    Screenshot via goldmansachs.com
    Screenshot via goldmansachs.com
    Screenshot via goldmansachs.com
  11. Top 11

    Toronto Dominion Bank

    Located in Toronto, Ontario, Toronto-Dominion Bank is a multinational Canadian banking and financial services company. The bank and its affiliates trade as Toronto-Dominion Bank and are frequently referred to as simply "TD." The Bank of Toronto and the Dominion Bank, which had been established in 1855 and 1869, respectively, were merged to form the new institution on February 1, 1955. One of the two Big Five Canadian banks, along with the Canadian Imperial Bank of Commerce, was established in Toronto. The TD institution number is 004 and the TD Bank SWIFT code is TDOMCATTTOR.

    The TD Bank Group was a top-10 bank in North America in 2021, the 23rd largest bank in the world, and the largest bank in Canada by total assets as well as market capitalization, according to Standard & Poor's. The Financial Stability Board designated it a globally systemically important bank in 2019.


    The market capitalization of Toronto Dominion Bank was $106.01 billion as of March 2023. This places Toronto Dominion Bank as the 125th most valuable corporation in the world according to market cap. The most recent financial reports from Toronto Dominion Bank show that the company's current revenue (TTM) is $36.14 billion. The corporation generated $35.17 billion in revenue in 2022, up from $33.86 billion in revenue in 2021.


    Founded: February 1, 1955
    Headquarters: Toronto-Dominion Centre Toronto, Ontario, Canada
    Website: www.td.com/ca/en/about-td

    Screenshot via 	www.td.com/ca/en/about-td
    Screenshot via www.td.com/ca/en/about-td
    Screenshot via 	www.td.com/ca/en/about-td
    Screenshot via www.td.com/ca/en/about-td



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