What Famous Businesses Work in the Finance Sector?

Discover the top finance sector giants, their roles, and the impact they have on global economies. Learn about key players such as JPMorgan Chase, Bank of America, Goldman Sachs, and more.

What Famous Businesses Work in the Finance Sector?

Finance specialists work for businesses that provide financial services like investment management, banking, or insurance. It is essential for those seeking experience in this field to be aware that some companies in it are substantially bigger (and more well-known) than others.

What businesses operate in the finance sector, then? There are numerous work options available in the industry.

What Businesses Work in the Finance Sector?

The economic sectors each contain several businesses. This phrase can also be used to mean "industry." Businesses in the same sector typically provide comparable goods or services.

Financial services is an example of a single industry. This sector includes a wide range of services, including insurance and banking.

One of the most important economic sectors when evaluating market capitalization. A small number of financial institutions control the sector and greatly influence the market in terms of revenue and earnings.

Read this list of some of the top consumer finance companies to learn more about the businesses in the finance sector.

List Of The Biggest Financial Institutions:

  1. JP Morgan Chase & Co.
  2. Berkshire Hathaway
  3. Bank Of America
  4. Morgan Stanley
  5. Citigroup
  6. Fannie Mae
  7. Freddie Mac
  8. State Farm
  9. Wells Fargo
  10. MetLife
  11. Brookfield Asset Management
  12. Prudential Financial
  13. Edward Jones
  14. Prime Lending
  15. Pinnacle Financial Partners
Business - Wiki+

JP Morgan Chase & Co.

JPMorgan Chase & Co. is a prominent international financial services corporation incorporated under Delaware law, headquartered in New York City. With a history spanning over two centuries, it is among the United States' most enduring financial institutions. The company offers various services, including investment banking, asset management, consumer and commercial banking, and financial transaction processing.

The growth of JPMorgan Chase has been fueled by a series of strategic mergers since 1996, encompassing prominent entities such as Chase Manhattan Bank, J.P. Morgan & Co., Bank One, Bear Stearns, and Washington Mutual. Consequently, the firm has faced scrutiny concerning risk management, expansive financing operations, and substantial legal settlements. For example, in August 2013, JPMorgan Chase disclosed that the US Department of Justice was investigating its mortgage-backed securities offerings before the 2007-2008 financial crisis. The company ultimately agreed to a $13 billion settlement to resolve the inquiry.

Demonstrating a commitment to community betterment, JPMorgan Chase invested an estimated $324.5 million in philanthropic and commercial initiatives worldwide in 2019. Furthermore, the firm's employees devoted approximately 468,000 hours to community service. As an industry frontrunner in retail banking, investment banking, financial transaction processing, and asset management, JPMorgan Chase caters primarily to US consumers. In addition, it serves an impressive roster of esteemed corporate, institutional, and government clients across the globe.

Headquarters: 383 Madison Avenue in New York City, USA.
Employees: 240,000

Berkshire Hathaway

Berkshire Hathaway is an American global holding company with its corporate headquarters in Omaha, Nebraska. Its primary line of business and main funding source is insurance, from which it invests the float (the retained premiums) in a diverse range of affiliate companies, equity investments, and fixed-income instruments. Since the 1960s, Warren Buffett has been the chairman and chief executive officer of Berkshire Hathaway, a sizable holding corporation. The corporation has consistently increased for many years in terms of sales and value. The market worth of Berkshire Hathaway was above $700 billion as of February 2023.

Berkshire Hathaway is a diverse international holding company with complete ownership of well-known businesses like GEICO, Duracell, Fruit of the Loom, and Dairy Queen. In addition, the business holds large stakes in various publicly traded firms, including Apple, American Express, Bank of America, and Coca-Cola. By the end of February 2023, Apple Inc., Chevron Corporation, The Coca-Cola Company, American Express Company, and Bank of America Corporation accounted for around 75% of the equity securities held by Berkshire Hathaway.

In May 2021, the 58-year-old vice chairman of Berkshire's noninsurance operations, Greg Abel, was formally announced as the company's potential successor by 90-year-old CEO Warren Buffett. In addition to news releases and a message from Warren E. Buffett, Berkshire Hathaway's website offers information on the business.

Headquarters: 3555 Farnam Street, Omaha, NE 68131, USA
Employees: 370,000

Bank of America

Situated in the bustling city of Charlotte, North Carolina, Bank of America is a prominent American multinational investment bank and financial services holding corporation. Ranking second only to JPMorgan Chase in the United States, it is also recognized as the second-largest global bank by market value. Bank of America provides extensive banking, investment management, and other financial and risk management products and services, catering to individuals, small and middle-market businesses, large organizations, and governmental entities.

Bank of America boasts a rich history of mergers and acquisitions. In 1998, NationsBank acquired BankAmerica, thus forming the Bank of America Corporation. In 2004, the bank expanded its reach by purchasing FleetBoston Financial, a renowned financial services provider based in Boston, Massachusetts. Subsequently, in 2006, Bank of America became a dominant credit card issuer following its acquisition of MBNA Corporation. Furthermore, to bolster its presence in the wealth-management sector, the bank acquired U.S. Trust Corporation in 2007, a distinguished investment firm serving high-net-worth clientele. In 2008, Bank of America further solidified its position by acquiring the United States' largest mortgage lender, Countrywide Financial, and Merrill Lynch & Co., Inc.

With an unwavering commitment to customer service, employee satisfaction, and shareholder value, Bank of America continues to expand responsibly. Offering its diverse range of services to more than 66 million clients, the bank caters to small businesses, global corporations, and various organizations. Bank of America's robust foundation is rooted in thousands of local communities, fostering strong connections both domestically and internationally. This dedication to excellence has earned the bank the prestigious title of Best Bank in the World for 2022 by Euromoney.

Headquarters: Bank of America Corporate Center, 100 North Tryon Street, Charlotte, NC 28255, USA
Employees: 165,000

Morgan Stanley

A global investment bank and provider of financial services, Morgan Stanley, is based in New York City. The business assists in distributing, managing, and raising capital for individuals, organizations, and governments. For institutional clients globally, Morgan Stanley is a market leader in the execution of transactions involving cash equity and equity-related products. Institutional Securities, Wealth Management, and Investment Management are the three business divisions in which the corporation is divided. In addition, Morgan Stanley engages in asset management, IPO underwriting, and mergers & acquisitions. Over 80,000 employees work for the company internationally.

Headquarters: 1585 Broadway, Midtown Manhattan, New York City, NY 10036, USA
Number Of Employees: 80,000


The American global investment bank and financial services provider Citigroup Inc., usually known as Citi, has its corporate headquarters in New York City. Citicorp and Travelers Group, Inc. merged to form the business in 1998. Citibank's holding company, Citicorp, and a number of foreign subsidiaries are owned by Citigroup. The Financial Stability Board classifies Citigroup, the third-largest banking organization in the United States, as a systemically important bank.

Citigroup's three business segments are Global Consumer Banking, Institutional Clients Groups, and Corporate and Other. Through retail banking, commercial banking, Citi-branded cards, and Citi retail services, the Global Consumer Banking business offers conventional banking services to retail customers. The Institutional Clients Group section offers a variety of wholesale banking products and services to the corporate, institutional, public sector, and high-net-worth clients worldwide. Other corporate expenses, some unallocated costs of worldwide staff duties, and unallocated costs of global operations and technology are all included in the Corporate and Other divisions.

The subprime mortgage crisis of 2008 cost Citigroup billions of dollars in damages due to the sharp decline in the value of mortgage-backed securities, severely reducing liquidity in global credit markets. Under the Troubled Asset Relief Program (TARP), the American government contributed $25 billion to Citigroup in October of that year. Since then, Citigroup has paid back the TARP funds and substantially restructured it to strengthen its financial situation.

Headquarters: 153 East 53rd Street, New York, NY 10022, USA
Employees: 215,000

Fannie Mae

The U.S. government established Fannie Mae as a government-sponsored enterprise (GSE) in 1938 to help assure a consistent and reasonable supply of mortgage funds nationwide. It buys mortgage loans on the secondary mortgage market from smaller banks or credit unions and backs or guarantees them. Fannie Mae offers liquidity by making investments in the mortgage market and consolidating loans into securities with mortgage backing. Although it does not give loans to consumers directly, it aids mortgage lenders in offering mortgage finance to assist borrowers in purchasing homes. However, concerns regarding Fannie Mae's risk and economic fragility have been raised, among other points of contention and criticism.

Headquarters: 1100 15th St NW Washington, DC 20005, USA
Employees: 8,000

Freddie Mac

The Federal Home Loan Mortgage Corporation, also known as Freddie Mac, is a government-sponsored business (GSE) established by Congress in 1970 to maintain the nation's housing finance system and guarantee a steady supply of mortgage funds at a reasonable price. Freddie Mac purchases many mortgage loans from lenders, who then pool them and sell them as mortgage-backed securities. Its primary source of revenue is the guarantee fee it collects on loans it has acquired and packaged into mortgage-backed security bonds. It has been said that Freddie Mac should not be allowed to borrow money at cheaper interest rates than other organizations because of its ties to the American government.

Headquarters: 8200 Jones Branch Dr, Mc Lean, Virginia, 22102, USA
Employees: 7,000

State Farm

Established in 1922, State Farm is a sizable network of mutual insurance firms headquartered in the US. It is the second-biggest provider of life insurance in the US and the top provider of auto and homeowners insurance. The financial services provided by State Farm now include banking and mutual funds. More than 19,000 agents comprise the company's workforce of about 57,500, with more than 85 million active policies and accounts. The goal of State Farm is to assist individuals in minimizing the risks associated with daily living, coping with the unexpected, and achieving their goals.

Headquarters: One State Farm Plaza. Bloomington, Illinois 61710, USA
Employees: 98,000

Wells Fargo

With its corporate headquarters in San Francisco, California, Wells Fargo is an American international financial services company. It serves one in three US homes and is the fourth-largest bank in terms of total assets. With operations in 35 nations and more than 70 million customers worldwide, the corporation. Retail and wholesale banking, wealth management services, crop insurance, commercial real estate, energy-syndicated loans, and other services are all provided by Wells Fargo. The Financial Stability Board classifies it as a systemically important financial institution. The business was established in 1852 to serve the expanding number of gold miners in California, and it has a long history.

Headquarters: 420 Montgomery Street San Francisco, CA 94104, USA
Employees: 245,000


Metlife is a well-known provider of financial services, offering insurance, annuities, and other products to people and organizations worldwide. It serves about 100 million clients and runs businesses in 40 different nations. The product mix of MetLife is varied and consists of securities, annuities, commercial mortgages, and insurance. The business is well-established abroad, holding top market positions in countries like Mexico, Japan, South Korea, and Chile. In addition, the MetLife Foundation, a charity organization run by MetLife, has given more than $650 million in grants since it was established in 1976.

Headquarters: 200 Park Avenue, Manhattan, NY 10166, USA
Employees: 45,000

Brookfield Asset Management

Brookfield Asset Management is a Canadian multinational company and a leading global alternative asset manager with over $800 billion of assets under management. It focuses on direct control investments in real estate, renewable power, infrastructure, credit, and private equity. The company operates through various business segments, including Asset Management, Real Estate, Renewable Power, Infrastructure, Private Equity, Residential Development, and Corporate Activities. Brookfield Asset Management is committed to being net-zero by 2050.

Headquarters: Brookfield Place, 181 Bay St C 300, Po Box 762, Toronto, Ontario, M5J2T3, Canada
Employees: 175,000

Prudential Financial

A Fortune Global 500 and Fortune 500 firm, Prudential Financial offers institutional and retail clients in the U.S. and more than 40 other countries insurance, retirement planning, investment management, and other financial products and services. The Prudential Mutual Assurance, Investment, and Loan Association was established in London in 1848. Prudential Financial aims to make investments, insurance, and retirement security more widely available. The company operates through several segments, including Closed Block, Corporate and Others, International Insurance, PGIM, U.S. Individual Solutions, and U.S. Workplace Solutions.

Headquarters: 751 Broad Street Prudential Plaza Newark, NJ 07102 USA
Employees: 40,000

Edward Jones

The U.S. financial services company Edward Jones has its main office in St. Louis, Missouri. In addition, it has a branch network of over 15,000 locations and 19,000 financial advisors serving approximately 8 million clients throughout the United States and Canada. It focuses on assisting individual investors and small-business owners. Assets managed by Edward Jones' clients totaled $1.2 trillion as of February 2023. The privately held corporation has been in business for more than a century. Edward Jones has already received fines for making revenue-sharing payments and overcharging retail consumers.

Headquarters:12555 Manchester Road Saint Louis, MO 63131, USA
Employees: 55,000

Prime Lending

PrimeLending is a mortgage lender that offers a range of home loan options, including purchase, refinance and renovation loans. They also offer niche products such as energy-efficient mortgages, swimming pool escrow loans, FHA 203(k) renovation loans, and interest-only mortgages. However, their mortgage rates cannot be shopped online. PrimeLending has been in operation since 1986 and is based in Dallas. They prioritize educating borrowers about their mortgage options and empowering under-served communities and diverse homebuyers to achieve financial success. PrimeLending has received mixed reviews, with some customers praising their personalized service and others criticizing their high fees and slow processing times.

Headquarters: 18111 Preston Road. Suite 900. Dallas, Texas 75252, USA
Employees: 4,000

Pinnacle Financial Partners

Pinnacle Financial Partners is a financial organization that offers people and businesses various banking, investing, trust, mortgage, and insurance products and services. The firm takes great satisfaction in being a location where customers can find real business partners and get unparalleled support and guidance from seasoned experts. Pinnacle Financial Partners' goals include enhancing associates' personal, professional, and financial well-being and the communities it serves. It aims to offer clients distinctive financial services and sound advice. A variety of financial services are provided by the business, including credit cards and online banking. Pinnacle Financial Partners is one of the top small-cap institutions in terms of growth.

Headquarters: 150 Third Avenue South Suite 900 Nashville, TN 37201 USA
Employees: 3,000


The financial services industry is one of the most important sectors of the economy. Technology and other factors continue to impact the financial services sector's outlook. Many types of financial institutions exist, such as banks, insurance companies, and brokerage houses.

Anyone who wants to work in the financial services sector must network, gain experience, and get certified. You can therefore traverse this industry more effectively if you are aware of the companies in the financial industry.

Frequently Asked Questions (FAQs):

The following are some of the most typical inquiries about businesses in the finance industry and their responses:

What Are The 3 Major Areas Of Finance?

The three major areas of finance are:

  • Money markets and credit markets
  • Investments
  • Financial management services for clients

What Are The 4 Types Of Finance?

The four types of finance recognized by finance organizations globally are:

  • Venture capitals
  • Small business capital and loans
  • Crowdfunding
  • Angel investors

What Is Finance Job All About?

It entails developing, overseeing, and studying financial investments. Public, corporate, and personal finance are the three categories of finance. Social and behavioral finance is the most recent subcategory of finance to be discovered. Specialists in this profession who must make specific financial decisions are included.