what companies are in the finance field

What Companies Are In The Finance Field

The finance industry encompasses a wide range of companies that play an integral role in our global economy. From facilitating transactions and moving money to advising corporations and individuals, the finance sector touches nearly every aspect of our lives.

In this article, we will explore some of the biggest and most prominent companies within the finance industry, what services they offer, as well as the latest developments impacting them in 2023.

JPMorgan Chase & Co.

Without a doubt one of the biggest players in global finance, JPMorgan Chase & Co. is a multinational investment bank and financial services holding company headquartered in New York City. Commonly referred to as “JPMorgan Chase” or

simply “JPM”, the company provides services such as investment banking, wealth management, asset management, treasury services, and prime brokerage to both corporations as well as individual investors. Some key facts about JPMorgan Chase:

  • Assets under management total over $3 trillion as of 2022, making it one of the largest banks in the world.
  • Generates over $50 billion in annual revenue through operations spread across more than 60 countries worldwide.
  • Along with commercial and retail banking, JPMorgan Chase is a major player in mergers & acquisitions advisory and debt/equity underwriting on Wall Street.
  • Offers a full suite of consumer banking products like checking/savings accounts, credit cards, auto/mortgage loans through its Chase division.
  • Was one of the banks hardest hit during the 2008 financial crisis but has rebounded strongly under CEO Jamie Dimon’s leadership.

In 2023, JPMorgan Chase is focusing on growing its sustainable finance business to help fund green energy projects and fight climate change.

Jpmorgan Chase &Amp; Co.
JPMorgan Chase & Co.

Wells Fargo

Chartered in 1852 and based in San Francisco, Wells Fargo is one of the “Big Four” banks in the U.S. along with JPMorgan Chase, Bank of America and Citigroup.

Known for its stagecoach logo, Wells Fargo provides diversified financial services to individual consumers as well as small/medium businesses. Some key facts:

Offers banking, insurance, investments and mortgage products to over 70 million customers globally. Generated $20 billion in profits in 2021 with over $2 trillion in assets on its balance sheet.

  • Infamous for a fake accounts scandal in 2016 where employees opened millions of unauthorized deposit/credit accounts. This led to billions in fines and a Federal cap on Wells Fargo’s asset growth until reforms are made.
  • Also plans to boost its digital capabilities to adapt to rising online/mobile banking trends and better compete with fintech rivals.

In 2023, Wells Fargo is focused on addressing this scandal fallout and improving its risk management/oversight structures to rebuild trust. Significant management changes have been made.

Wells Fargo
Wells Fargo

Goldman Sachs

One of the most prestigious names on Wall Street, Goldman Sachs is a leading global investment bank and securities firm providing mergers & acquisitions, trading, investing and other services to corporations, governments and individuals worldwide. Headquartered in New York City:

Famous for its deal making prowess and involvement in some of the largest M&A transactions in history totaling trillions of dollars. Generates the majority of its revenue from investment banking fees and trading/market making activities.

  • Manages assets totaling over $2 trillion for investors and provides wealth management to high-net-worth clients.
  • Employs over 40,000 people across offices in over 30 countries on six continents.
  • Also working to address criticism around excessive risk-taking and compensation practices that contributed to the 2008 crisis.

In 2023, Goldman Sachs aims to further cement its position as a top M&A advisor while expanding offerings in asset/wealth management amid a cooling deals environment.

Goldman Sachs
Goldman Sachs

Morgan Stanley

Formed in 1935 through the merger of J.P. Morgan & Co. and Stanley & Co., Morgan Stanley is a leading global investment bank known for its strength in mergers & acquisitions as well as asset/wealth management services. Some key details:

Primarily split into two units – Institutional Securities (sales/trading/investments banking) and Wealth Management. Manages over $4 trillion in client assets and conducts over 40,000 financial transactions annually.

  • Serves corporations, governments, financial institutions and high-net-worth individuals.
  • Strong foothold in debt/equity underwriting as well as M&A advisory globally.
  • Also aims to grow its asset/wealth management operations through strategies like acquisitions to mitigate cyclicality in Wall Street revenues.

In 2023, Morgan Stanley is focused on capturing more market share in EMEA/Asia by expanding local investment banking teams.

Morgan Stanley
Morgan Stanley

Bank of America

One of the “Big Four” commercial banks in the U.S., Bank of America caters to individual consumers, small businesses as well as large corporations with an extensive range of financial services. Some key details:

Operates over 4,300 financial centers across America with presence in over 35 countries. Services around 67 million consumer and small business clients with banking, investments and home lending.

  • Provides global corporate and investment banking to large companies generating over $100 billion annually.
  • Offers credit/debit cards, checking/savings accounts, loans, online banking and brokerage.
  • Investing heavily to combat economic uncertainties and stay competitive against online fintech disruptors.

In 2023, Bank of America plans to enhance its digital capabilities and offer more personalized banking experiences through AI/data analytics.

Bank Of America
Bank of America


Formed from the iconic 1998 merger of Citicorp and Travelers Group, Citigroup operates as a diversified global bank with operations spanning over 160 countries. Some key business areas include:

Global Consumer Banking caters to retail clients/small businesses with checking, savings, credit cards etc. Institutional Clients Group handles corporate/investment banking, treasury & trade solutions.

  • Additionally, offers wealth management, asset management and private banking services.
  • Revenue of over $71 billion in 2021 from services/products delivered through 2,200+ branches.
  • Exploring fintech partnerships and open banking opportunities to diversify revenue streams in a rising interest rate environment.

In 2023, Citigroup aims to streamline operations, cut costs and boost underperforming segments like consumer banking to navigate stagflation risks.


American Express

While commonly known for its charge/credit cards, American Express functions as both a payment network and lender providing card acceptance/issuing services to consumers and merchants globally.

Operates one of the most recognized brands in finance serving over 130 million cards in circulation. Generates majority of revenue from interest charges and fees on card spending/balances.

  • Earned record $12.3 billion in net income for 2021 by charging merchants high processing fees.
  • Also ventured into travel/expense management and foreign exchange services in recent years.
  • Working to strengthen balance sheet by boosting credit quality while sustaining record profits.

In 2023, American Express seeks to acquire more co-brand partnerships and grow share in new markets as travel spending bounces back post-pandemic.

American Express

Capital One

Founded in 1994, Capital One is one of America’s largest banks offering credit cards, auto loans, banking and online/mobile services to customers globally.

Primarily a credit card issuer with over 100 million card accounts currently active. Serves consumers, small businesses as well as commercial clients through over 1,000 branches. Makes money through interest earned on loan/credit balances as well as penalty/interchange fees.

  • Well-known for its partnership with Walmart which issued the Walmart branded credit card.
  • Earned $8.8 billion in net income last year by leveraging big data analytics to optimize marketing.
  • In 2023, Capital One will seek M&A opportunities and pilot Buy Now, Pay Later services to diversify product suite.
Capital One
Capital One

Berkshire Hathaway

The massive conglomerate controlled by legendary investor Warren Buffett, Berkshire Hathaway owns a variety of operating businesses in sectors ranging from insurance to railroads. However, it also owns significant stakes in major financial firms including:

  • Over $30 billion equity stake in Bank of America, one of its largest publicly traded investments.
  • Large shareholdings in American Express, Coca-Cola, Apple and other prominent corporations.
  • Separately owns GEICO, one of the largest auto insurers in the U.S. which adds billions annually.
  • 2023 will likely see Berkshire focus on opportunistic acquisitions/investments while paying down debt on its balance sheet post-pandemic.
Berkshire Hathaway
Berkshire Hathaway


Formed from the iconic 1998 merger of Citicorp and Travelers Group, Citigroup operates as a diversified global bank with operations spanning over 160 countries. Some key business areas include:

  • Global Consumer Banking caters to retail clients/small businesses with checking, savings, credit cards etc.
  • Institutional Clients Group handles corporate/investment banking, treasury & trade solutions.
  • Additionally, offers wealth management, asset management and private banking services.
  • Revenue of over $71 billion in 2021 from services.

U.S. Bancorp

One of the largest commercial banks in the U.S., U.S. Bancorp provides a wide range of financial services to over 15 million consumer and business clients globally.

  • Offers banking, investments, home loans, insurance and payment processing products through over 3,100 branches.
  • Earned $6 billion in profit last year fueling its consistent market leadership in the Midwest region.

In 2023, aims to bolster digital banking infrastructure and target synergies from previous acquisitions to enhance profitability.

U.s. Bancorp
U.S. Bancorp


As a leading global payments technology company, Mastercard operates the world’s fastest payment processing network enabling credit/debit card transactions.

  • Processes over 50 billion transactions annually worth trillions of dollars for banks and merchants in over 210 countries.
  • Generates most revenues from payment processing fees charged to merchants and banks on every transaction.

Expanding into new payments areas like real-time payments, open banking APIs and cybersecurity solutions. Focused on harnessing data insights to deliver enhanced services to card issuing partners worldwide.


Bank of Montreal

Commonly known as BMO, this major Canadian bank also has significant U.S. operations providing banking to over 8 million customers globally.

  • Primarily offers personal and commercial banking services including deposits, loans, wealth management.
  • Generates $8 billion annually through its extensive Canadian branch network serving individuals and businesses.
  • Strategic acquisitions of Harris Bank and Bank of the West expanded its U.S. presence in recent years.

In 2023, refocusing growth initiatives around digital innovation and tackling current economic challenges.

Bank Of Montreal
Bank of Montreal


One of the largest banks in the UK, Barclays also has a major investment banking franchise serving clients internationally.

  • Provides retail and corporate banking as well as credit cards, wealth management and business services.
  • Generates over half its £8.4 billion profit from investment banking fees on mergers, IPOs and trading.
  • Also plans to expand African operations to offset weak European growth environment.

Focus in 2023 on improving underperforming retail division via digital transformation and cost-cutting measures.


Credit union

A credit union is a type of financial institution owned by its members, typically offering basic banking services like savings accounts and loans at competitive rates.

  • Not-for-profit cooperatives operating on a community charter often catering to certain employer or regional groups.
  • Superior member returns have led to strong growth challenging traditional banks in recent years.

Globally over 345 million members in more than 100 countries served by approximately 57,000 individual credit unions. Regulated at national/state levels to provide a safe alternative to commercial banks.

Credit union


HSBC Holdings is one of the largest banks in the world, headquartered in London serving customers across 67 countries in Europe, Asia, North America, and Middle East and North Africa.

Generates most revenues internationally with a strong presence in Asia, particularly China and Hong Kong. Offers retail banking, wealth and asset management, commercial and investment banking services.

In 2023, focusing on growth areas like wealth management in Asia to offset headwinds in interest rates and Europe.


Deutsche Bank

One of the largest banks in Germany, Deutsche Bank has significant global investment banking operations as well.

Provides corporate and investment banking, asset and wealth management, private and commercial banking. Undergoing a major restructuring to refocus on stable revenue generators after years of scandals and losses.

Sold assets and cut thousands of jobs globally to reduce costs and risk-weighted assets on its balance sheet.

Deutsche Bank
Deutsche Bank


Deloitte Touche Tohmatsu is one of the Big Four accounting/consulting firms alongside PwC, EY, and KPMG.

Provides auditing, consulting, risk advisory, and financial advisory services to public/private companies globally. Earned $50 billion in revenues last year serving clients across various industries including financial services.

In 2023, investing in technologies like blockchain, AI and cybersecurity to meet evolving needs of banking/fintech sectors.


Charles Schwab

One of the largest online brokerages, Charles Schwab revolutionized trading by pioneering the commissions-free model in 2019.

Catered to over 34 million brokerage accounts with offerings of investing, banking and advice products. Acquired rival TD Ameritrade in 2020 creating an investing juggernaut with over $6 trillion in client assets.

Now refocusing on growing wealth management business by enhancing digital tools and face-to-face guidance services.


The world’s largest asset manager, BlackRock holds over $10 trillion invested on behalf of institutions and individuals in over 100 countries.

Offers iShares ETFs, alternative investments, risk management and advisory services to clients globally. In 2023, looking to deploy even more capital into ESG investments to address climate change and social issues.

Also focusing on growing its powerful Aladdin investment management software platform.


PwC is one of the Big Four accountancy and professional services firms along with Deloitte, EY, and KPMG.

Provides auditing, assurance, tax, consulting and deals advisory to corporations globally. Employs over 328,000 people in over 150 countries and earns annual revenues approaching $50 billion.

In 2023, investing in digital upskilling initiatives and ESG advisory as these areas take priority for banking/finance clients.

Fannie Mae

Fannie Mae is a government-sponsored enterprise that facilitates mortgage lending in the United States.

Buys loans from banks and sells them to investors with an explicit government guarantee against losses. Plays a key role in the housing market by enhancing liquidity and availability of affordable 30-year fixed rate loans.

In 2023, faces uncertainty amid discussions of potentially ending the government conservatorship that began during the 2008 crisis.

State Street

A leading provider of financial services to institutional investors, State Street services over $43 trillion for thousands of financial companies globally.

Offers asset servicing, investment research, trading and other services centering around investment management. Earned $3 billion last year primarily through custodial fees, fund administration and foreign exchange commissions.

Will increase sustainability-focused offerings going forward to align with ESG investing tailwinds.


What businesses are in the field of finance?

Businesses in the finance field include banks, investment funds, insurance companies, stock/bond brokers, payment processors, real estate investment trusts, fintech startups, and more. They offer services such as taking deposits, lending money, facilitating investments/trades, protecting against risks, processing transactions, and providing financial advice.

What are considered finance companies?

Finance companies generally include businesses that provide financial services and products to consumers, corporations and governments. Some examples are commercial banks, investment banks, credit card issuers, mortgage lenders, payment networks, life insurers, asset managers, private equity firms, stockbrokers, online financial advisors and accounting/consulting firms specializing in finance.

What are the top 10 financial companies?

The top 10 global financial companies by assets typically include firms like JPMorgan Chase, Industrial and Commercial Bank of China, Bank of America, BNP Paribas, Citigroup, HSBC, Wells Fargo, Agricultural Bank of China, Bank of China and Mitsubishi UFJ Financial Group. However, rankings can vary depending on the specific metrics and geographical scope considered.

What are the top 5 financial companies?

Generally considered the top 5 largest global financial companies are JPMorgan Chase, Berkshire Hathaway, Bank of America, AmEx and Morgan Stanley. They dominate in metrics like number of customers, revenue, market capitalization and total assets. However, rankings are not set in stone as performance fluctuates annually for firms within industries as large and diverse as global finance.


In conclusion, the companies profiled here represent some of the biggest and most influential players across the global finance industry. From managing trillions of dollars in assets to facilitating billions of transactions each day, these firms touch

nearly every aspect of the modern economy. While many face challenges from economic headwinds, rising interest rates and disruptive technologies, their scale, expertise and vast resources also provide advantages in adapting to ongoing changes.

Going forward, themes like sustainable finance, financial inclusion, regulatory reforms and the rise of fintech will continue reshaping this dynamic sector. How organizations deploy analytics to personalize services, partner with startups or

acquire innovative peers may determine their long-term success. Meanwhile, geopolitical tensions add uncertainties for those with international operations. Nonetheless, the essential nature of banking, investing, payments and advice

services ensure the industry’s central role remains intact. The next decade will undoubtedly bring further transformations as new entrants promote efficiency and incumbents evolve strategies. But for both individuals and businesses alike,

access to capital and expertise from companies profiled here should remain paramount in powering global commerce. Their performance directly impacts economies and millions of lives worldwide.

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