Biggest banking cities

[Dolemite]

Does someone have a list of the biggest banking cities in the United States and world?

There was a thread on this topic a few months ago, but it was pruned from the forum. I am looking for a very specific piece of information--namely, a list of banking cities by ASSETS and DEPOSITS (and also, by the number of workers employed in the industry.)

One member posted a list comparing banking cities by assets vs deposits. IIRC, he provided a link to a goverment website (federal reserve?) with these figures. Can anyone help?

[LordMandeep]

juding by just number of buildings downtown, Toronto is the biggest in Canada and atleast top 5 in NA. I may be wrong though...

[Jularc]

http://www.post-gazette.com/images4/20060625largest_bank_ctrs.gif

http://www.post-gazette.com/pg/06176/701039-28.stm

Also according to this link http://www.london.gov.uk/london-life/business-and-jobs/financial-centre.jsp London is the banking centre of the world.

[Dr Nevergold]

As always, it is important to distinguish between financial centers and banking assets rankings. Banking assets aren't as important as overall financial markets.

[MidtownMile]

As always, it is important to distinguish between financial centers and banking assets rankings. Banking assets aren't as important as overall financial markets.

Yes and no. Generally, you are completely correct. However, the banking asset centers are starting to develop almost a sub culture in some of these areas that didn't oeprate before. Therefore, the two are becoming a bit more "different but equal". Now, of course, some financial centers will always outpower these locales, but the assets management is becoming more like high-tech in that is is concentratable into an area and, therefore, a powerful force for an individual city that may not be a financial powerhouse.

[LMich]

Perhaps, he really just wants to compile a list of the largest banking centers. Unless he specifies otherwise, it's not really relevant which is more important. (i.e. banking centers vs. financial centers).

[atlantaguy]

Dolemite - What you're looking for can be found on the FDIC's website. It takes a while, but it's all there.:)

[Qaabus]

London, Frankfurt, Paris, Amsterdam, some Swiss cities, Luxemburg, Milano.

[Grumpy]

Calabasas...where is that in CA ?

[arbeiter]

Calabasas...where is that in CA ?

I think it's right next to LA

[ctman987]

I know Charlotte made it onto that list thanks to the fact that Bank of America is headquartered in the city...

[trvlr70]

I know Charlotte made it onto that list thanks to the fact that Bank of America is headquartered in the city...

And Waukovia!

I'd imagine NYC, London, Zurich and Tokyo would make any list.

[the urban politician]

Yes and no. Generally, you are completely correct. However, the banking asset centers are starting to develop almost a sub culture in some of these areas that didn't oeprate before. Therefore, the two are becoming a bit more "different but equal". Now, of course, some financial centers will always outpower these locales, but the assets management is becoming more like high-tech in that is is concentratable into an area and, therefore, a powerful force for an individual city that may not be a financial powerhouse.

^ Perhaps, but I have a hard time seeing Charlotte, NC being close to the level of NY as a financial powerhouse on the basis of these stats alone.

These stats simply reflect where the biggest banks are headquartered. Consolidation has lead to the creation of a handful of superbanks in the US, and where they happen to be based is looking more and more arbitrary these days, with some exceptions.

[MolsonExport]

My best guess, internationally (by financial centres, not by assets held)
London
Tokyo
New York City
Frankfurt
Paris
Hong Kong
Amsterdam
Toronto
Milano
Sao Paulo
Singapore
Shanghai
Melbourne

[MayorOfChicago]

Yeah, "Banking Cities" by the definition of this thread and "Financial Centers" based on general financial transactions and assets of a city are quite different.

I could have the largest bank in the world headquartered in my city - but no other banks, and suddenly I'm one of the "Banking Capitals Of The World". True you have a massive bank with a lot of power (and I'm assuming employees), but the rest of your city could be blue collar or public sector employees.

Then take a city with 20 smaller banks, but hundreds of financial sector corporations and markets, and they don't even make the list.

Of course this thread was born for the "Banking Cities", so I'll get back to that.

Does anyone have a list showing the actual banking assets of major cities in the country? It'd be interesting to see how far above some of these cities in the top 10 or 20 are compared to others.

I assume a banks assets are all counted where its corp headquarters are located? I know Chicago has a huge amount of employees and office space for ABM AMRO/LaSalle, Chase, Northern Trust Corp, and Harris Banks. These 4 alone employee over 35,000 people, but only one of these banks actually holds its Corporate Headquarters in Chicago.

[AZheat]

According to bankresearch.org the top 15 are as follows:
1. London
2. New York
3. Tokyo
4. Singapore
5. Paris
6. Frankfurt
7. Milan
8. Madrid
9. Geneva
10.Osaka
11.Zurich
12.Brussels
13.Chicago
14.Barcelona
15.Munich

[atlantaguy]

Guys - Here's the link to the FDIC for an alpha ranking showing total deposits per metro area. The big banking centers (like Charlotte) seem a little bloated considering their size, but this provides a true picture:

http://www2.fdic.gov/sod/sodSumReport.asp?barItem=3&sInfoAsOf=2006

Of course, this is for the States only.

[TexasStar]

Seems that total deposits is a better indicator than headquarters.
Just looking at the list, it makes more sense.

http://pages.sbcglobal.net/samclark/dallas/Banking2.jpg

Source: FDIC
http://www.fdic.gov/index.html

[Jersey Mentality]

^ I wonder why they listed Philadelphia higher then L.A. when L.A. has more institutions, more offices, and more deposits :koko:

[Taft]

^ I wonder why they listed Philadelphia higher then L.A. when L.A. has more institutions, more offices, and more deposits :koko:

Good question. I thought for a moment that they were ranked by commercial banks only. This works with Chicago and LA (Chicago having around 240 and LA having around 200), but philly has well under 200.

Maybe this gives only the number of deposits and not the total quantity of the deposits? Other than that, I'm at a loss.

Where did that table come from anyway? I can't seem to find it on the site and your link doesn't work.

Taft

[xzmattzx]

I was going to mention my city, but I see that it was already noted in the graph near the top.

I'm surprised to see Wilmington at #5. I expected the top ten, but not top 5. Of course, I have mentioned on here before about how much money flows in the city from the banks and credit card companies, so maybe I shouldn't be surprised.:P

[TexasStar]

Good question. I thought for a moment that they were ranked by commercial banks only. This works with Chicago and LA (Chicago having around 240 and LA having around 200), but philly has well under 200.

Maybe this gives only the number of deposits and not the total quantity of the deposits? Other than that, I'm at a loss.

Where did that table come from anyway? I can't seem to find it on the site and your link doesn't work.
Taft

Sorry, I made the table from the data at the FDIC site. I just didn't edit the list well enough. Fixed now, arranged by deposits.

[PhillyRising]

I'm pretty shocked that there is as much money in Philly deposits as there are in LA when they have twice the population metro wise.

[seaskyfan]

The ratio is surprising but Philly does have higher per capita income and lower housing costs. Also, having lived in Philly for a few years I don't get the sense that outlays on plastic surgery are as high as they are in LA.

Here's a link to the per capita income info: http://bea.gov/bea/newsrel/MPINewsRelease.htm

[edluva]

^I seriously doubt the difference in metro-size can be made up by a slightly higher per-capital income. Did anyone ensure that these metro sizes check out?

[Peanuthead]

Apparently...

'London handled 31% of global currency transactions in 2005 — an average daily turnover of US$753 billion — with more US dollars traded in London than New York, and more Euros are traded in London than in every other city in Europe combined.'

Sources:
http://www.bis.org/publ/rpfx05t.pdf
http://www.cityoflondon.gov.uk/Corporation/media_centre/keyfacts.htm

The question is quite ambigious so I don't know how this factors.

[edluva]

I compiled LA's numbers and clarified "metro" for other cities. TexasStar's chart ignores the complete metro and "unwittingly" ;) puts Dallas above Boston and DC, which is probably incorrect. In any case, total deposits is only one aspect of the banking industry, and probably doesn't say much. You guys can do Philly and NY. I'm tired. Here's the link: http://www2.fdic.gov/sod/sodInstBranch.asp?barItem=1

Metro/MSA's/Total Deposits

New York???
Los Angeles CMSA - (LA-LB-SA/San Bernardino-Riverside/Ventura) - 339,678,470
Chicago-Naperville-Joliet CMSA (IL-IN-WI) - 261,917,971
Philly???
San Francisco Bay Area (SF-Oak-Fre/SJ-Sunnyvale-SC/Napa/Sonoma/Vallejo-Fairfield) - 232,669,657
---------------------->(SF-Oak-Fre/SJ-Sunnyvale-SC alone - 217,708,700)
Baltimore-Washington CMSA (DC-MD-VA-WV) (Washington-Arlington-Alexandria/Baltimore-Towson/Winchester) - 192,983,363
Boston-Worcester-Manchester CMSA (MA-RI-NH) (Boston-Cambridge-Quincy/Manchester-Nashua/Worcester/Providence-New Bedford-Fall River) - 183,773,833

[larryfla]

These figures are from 31 December 2005:

City
1. Paris $4,776,219,000,000
2. New York $3,855,586,000,000
3. Tokyo $3,843,481,000,000
4. London $3,086,363,000,000
5. Zurich $2,574,490,000,000
6. Amsterdam $2,410,747,000,000
7. Edinburgh $2,264,085,000,000
8. Baijing $1,959,167,000,000
9.Charlotte $1,812,550,000,000 10. Frankfurt $1,687,566,000,000

Although Toronto wasnt in the top 10, it wasn't far down the line with:
$ 707,102,000,000

[LordMandeep]

Wow thats in trillions...

[WonderlandPark]

I expected Tokyo to top ^^^ that list, but Paris, suprising to me. Is there some reason Edinburgh is up there with the Londons and Zurichs of the world? Some special bank or other anomaly that puts it there? Isn't the Bank of Scotland in Glasgow?

[Dr Nevergold]

Yeah, "Banking Cities" by the definition of this thread and "Financial Centers" based on general financial transactions and assets of a city are quite different.

I could have the largest bank in the world headquartered in my city - but no other banks, and suddenly I'm one of the "Banking Capitals Of The World". True you have a massive bank with a lot of power (and I'm assuming employees), but the rest of your city could be blue collar or public sector employees.

Then take a city with 20 smaller banks, but hundreds of financial sector corporations and markets, and they don't even make the list.

Of course this thread was born for the "Banking Cities", so I'll get back to that.

Does anyone have a list showing the actual banking assets of major cities in the country? It'd be interesting to see how far above some of these cities in the top 10 or 20 are compared to others.

I assume a banks assets are all counted where its corp headquarters are located? I know Chicago has a huge amount of employees and office space for ABM AMRO/LaSalle, Chase, Northern Trust Corp, and Harris Banks. These 4 alone employee over 35,000 people, but only one of these banks actually holds its Corporate Headquarters in Chicago.

Not only that, but financial markets mean trading centers. Chicago has plenty of exchanges that would clearly make it the #2 financial center behind New York (unless LA has some secrets I'm unaware of). The Chicago Stock Exchange is based in Chicago, for example.

http://www.chx.com/

There are more funds traded on the Chicago Stock Exchange in one day than all the assets of the largest bank in America, Bank of America.

[Dr Nevergold]

These figures are from 31 December 2005:

City
1. Paris $4,776,219,000,000
2. New York $3,855,586,000,000
3. Tokyo $3,843,481,000,000
4. London $3,086,363,000,000
5. Zurich $2,574,490,000,000
6. Amsterdam $2,410,747,000,000
7. Edinburgh $2,264,085,000,000
8. Baijing $1,959,167,000,000
9.Charlotte $1,812,550,000,000 10. Frankfurt $1,687,566,000,000

Although Toronto wasnt in the top 10, it wasn't far down the line with:
$ 707,102,000,000

The Toronto Stock Exchange is more important than the banking assets owned by the banks HQ'ed in downtown.

http://www.tsx.com/

Ottawa is an important center, being the head of the Bank of Canada; much like the Fed down here. Federal Reserve cities are very important in the US.

[nito]

I expected Tokyo to top ^^^ that list, but Paris, suprising to me. Is there some reason Edinburgh is up there with the Londons and Zurichs of the world? Some special bank or other anomaly that puts it there? Isn't the Bank of Scotland in Glasgow?Two of the world's biggest banks are headquartered there:
- HBOS (Halifax Bank of Scotland)
- Royal Bank of Scotland
They are the 5th and 9th largest banks in the world (according to Forbes ranking), although the majority of their business is undertaken in London.

[tayser]

My best guess, internationally (by financial centres, not by assets held)
London
Tokyo
New York City
Frankfurt
Paris
Hong Kong
Amsterdam
Toronto
Milano
Sao Paulo
Singapore
Shanghai
Melbourne

Sydney rather than Melbourne - Aus' big 4 banks are split between Melbourne & Sydney, but Sydney has the big investment banks Macquarie and Babcock & Brown to say the least.

Funds Management gets a little different as about 40% of Australia's superannuation is controlled / traded / invested / spat on in Melbourne (see this (http://forum.skyscraperpage.com/showthread.php?t=122730) thread.) - AXA, Goldman Sachs, Vanguard & GE Money in Melbourne versus Citigroup, Fidelity & Allco in Sydney etc.

Anyhow, I've been looking for a thread to put some of this stuff in - it's from the Reserve Bank of Australia,

http://www.rba.gov.au/Speeches/2006/_Images/171106_so_graph2.gif

this surprised me given that the US and Canada trade far more with each other than Australia and the US:

http://www.rba.gov.au/Speeches/2006/_Images/171106_so_graph5.gif

all from : http://www.rba.gov.au/Speeches/2006/sp_so_171106.html

[Chase Unperson]

Which city has the biggest ATMs?

[tocoto]

If you account for investment banking, mutual funds, custodial banking, hedge funds, buyout specialists, accounting firms, stock exchages and retail banks that hold assets you get a better picture of the financial industry. I think the biggest cities in this area in the US are NY, Chi, Boston then probably SF, LA, Charlotte.

[MayorOfChicago]

Which city has the biggest ATMs?

That would be interesting. The US had just below 400,000 ATMs in 2006. 260,000 of those were located in places other than a bank. I've always noticed more ATMs in the US than in many cities in Europe and South America. The US is home to 26.4% of all ATM's in the world, while only having around 4.6% of its population.

[GeorgeLV]

Seems that total deposits is a better indicator than headquarters.
Just looking at the list, it makes more sense.

http://pages.sbcglobal.net/samclark/dallas/Banking2.jpg

Source: FDIC
http://www.fdic.gov/index.html

Your neat chart skipped over Las Vegas which has (107,379 millions) and Salt Lake City (121,456 millions) in deposits according to the data from the FDIC. http://www2.fdic.gov/sod/sodSumReport.asp?barItem=3&sInfoAsOf=2006

Hooray for gambling and Mormons :)

[dimondpark]

Your neat chart skipped over Las Vegas which has (107,379 millions) and Salt Lake City (121,456 millions) in deposits according to the data from the FDIC. http://www2.fdic.gov/sod/sodSumReport.asp?barItem=3&sInfoAsOf=2006

Hooray for gambling and Mormons :)

:haha: :D

[Metro Matt]

Seems that total deposits is a better indicator than headquarters.
Just looking at the list, it makes more sense.

http://pages.sbcglobal.net/samclark/dallas/Banking2.jpg

Source: FDIC
http://www.fdic.gov/index.html

Thanks TexasStar, I knew Dallas had to be up there in the rankings.

[JAM]

Which city has the biggest ATMs?

Well, it must be in Texas. We have the biggest asses and the biggest ATM's!

[BTinSF]

Just to make the point that in this discussion you really have to define your terms and your exact interest, one of the above lists says that assets held by "banks" in San Francisco total $505 billion (others say other amounts--not sure what to believe) whereas

Barclays Global Investors is a subsidiary of British-based Barclays Bank which is in the investment management industry. It is the largest corporate money manager in the world, with over £936 billion (US$1.77 trillion) under management as of March 2006[1]. The division is headquartered in San Francisco

So here's a little outfit, presently putting up a new HQ building by the way (since buildings are supposedly our focus here), which is not a "bank" as we have apparently defined it, but which, by itself (and it is only one of a number of investment managers in SF), "runs" 3 times as much assets as all the banks in the city put together. This is what, I think, makes the difference between a financial center and a city which simply happens to be the HQ of a large bank or two. Those commercial banks can, through merger or even simply executive whim, leave town anytime as San Francisco learned when Bank of America let itself be bought.

Also, it's worth noting that the "size" of banks is subject to the arcana of accounting as shown by the fact that most of the world's largest banks were in Japan a decade or so ago whereas that's no longer true. Those banks did have lots of deposits (Japanese tend to be prodigious savers but don't trust other asset classes like stocks), but they also had huge liabilities hidden on their balance sheets that came home to roost.

[edluva]

hell, let's throw in PIMCO for LA (actually Newport beach). it's got 640 billion in assets.

[caltrane74]

Whenever I think of Banking centres I think of the Swiss Alps. Oh its so romantic for a greedy bastard like myself.