Texas is becoming a destination for wall street firms

Financial Services Firms have increased their presence in State of Texas In recent years as they have parted ways with their good moves beyond the financial tradition of New York City’s Wall Street.

Many of the nation’s leading banks and financial institutions have built new campuses or expanded their operational presence in Texas in recent years. The trend comes in the wake of the migration of many Americans during the ACOVID-19 pandemic away from high-income states like New York and California to those with lower tax and regulatory burdens.

This page New York City Mayoral Election It is set to be held on Tuesday and could factor into future decisions by financial firms regarding where to base their operations. Policy critics encouraged by Democrat ONoNee Zohran Mamdani, who identifies as a Democratic Socialist, have warned that his tax plans and other policies could reduce business mobility.

Here is a look at the five largest financial firms and their presence in the Dallas area, one of the most important economic areas in the lone star region.

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Goldman Sachs

Rendering of the Goldman Sachs office in Dallas, Texas, to open in 2028. (Goldman Sachs)

The Investment Bank and Financial Services Firm is in the process of building a new 800,000-square-foot campus in Dallas that could house more than 5,000 employees. The firm currently employs approximately 4,500 people in the Dallas-Fort Worth Metro Area.

Goldman Sachs’ The Dallas office is the second largest in the US, behind only New York City and its 7,800 employees within the firm. The new Dallas Campus will develop employees from a variety of businesses and sectors.

The new campus is scheduled to open in 2028 following the completion of construction, interiors and staff relocation.

JPMorgan Chase

jpmorgan chase’s headcount in the state of Texas has surpassed its presence in New York City. (Tim Clayton/Corbis via Getty Images)

The largest bank in the US currently has approximately 31,000 employees in Texas, including 18,000 in the Dallas-Fort Worth Metro Area.

JPMORGANACHERASE Headcount in the state of Texas is greater than New York City, where it employs 24,000 workers. The Firm has a campus in the suburb of Plaso, where more than 12,000 of those employees are based.

The Dallas Chamber of Commerce lists JPMorgan among its largest employers, with more than 10,000 employees in the Dallas-Fort Worth Metro Area.

See inside jpmorgan’s new $3b headquarters in New York City

Wells Fargo

Customers use banking machines at a Banks Fargo Bank branch. (Mario Anzuon / Reuters / Reuters)

Late last month, Wells Fargo A new 22 Acre campus has officially opened to house that portion of ten news office buildings that could house 4,500 employees.

The Dallas Chamber lists Fargo Wells Fargo as having 5,000 and 9,999 employees in the Metroplex.

Charles Schwab

The exterior of Charles Schwab’s Campus in Dallas-Fort Fastic, Texas. (Charles Schwab/Fox News)

Schwab moved its corporate headquarters from California to the Dallas area about five years ago, when it opened a new campus in the Westlake suburb.

Charles Schwab It employs between 5,000 and 9,999 workers in the Dallas Metro Area, according to a Dallas Chamber report.

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Bank of America

Bank of America is one of the largest employers in the Dallas Metro area. (Collections of Smith / GADO / GETTY Images)

Bank of America It is in the process of building a new 30-story office building in Dallas, although it will keep its headquarters in Charlotte. The firm’s new tower is expected to be completed in 2027.

The Dallas Chamber notes that Bank of America has more than 10,000 employees in the Metro area.

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