[Ranking] TOP 25 Financial Conglomerates / Finance Companies Q3/2023
Intro
Financial conglomerates are a crucial component of the global economy, playing a vital role in the finance industry. These conglomerates are large, diversified entities that operate in various sectors of the finance industry, including banking, insurance, and investment management.
The influence of financial conglomerates extends far beyond the finance sector, with ripple effects felt across diverse industries and economies. Their activities impact businesses, individuals, and governments alike, shaping the overall economic landscape.
The economic magnitude of financial conglomerates is immense, as they control vast amounts of capital and provide a wide range of financial services to clients worldwide. With their extensive resources and expertise, these conglomerates have experienced a significant upward trajectory, continuously growing in size and influence.
Recent trends and breakthroughs have further molded the financial conglomerate industry. Technological advancements have revolutionized the way these conglomerates operate, enabling them to offer innovative digital services and improve efficiency. However, regulatory challenges and market fluctuations pose obstacles that conglomerates must navigate to maintain their success.
The landscape of the financial conglomerate industry is ever-changing, driven by evolving market conditions, emerging technologies, and shifting customer demands. This dynamic environment sets the stage for exploring the top companies within the industry and understanding how they adapt and thrive in this challenging landscape.
Ranking
#25 Charles Schwab Corporation
Employees: 19K
Revenue: 10B$
Website: https://www.schwab.com
Description: The Charles Schwab Corporation, headquartered in San Francisco, United States, is a prominent player in the Financial Conglomerates industry. Established in 1971, the company has approximately 19,000 employees. With annual revenues of around 10 billion dollars, Charles Schwab offers a wide range of financial services including brokerage, banking, and advisory services to individual investors and independent investment advisors. They provide tools, research, and support to help individuals achieve their financial goals. Known for their low-cost investment options and innovative digital platforms, Charles Schwab has become a leading provider of investment services in North America.
#24 State Street Corporation
Employees: 39K
Revenue: 11.7B$
Website: https://www.statestreet.com
Description: State Street Corporation, headquartered in Boston, United States, is a leading financial services company operating in the Financial Conglomerates industry. Founded in 1792, State Street Corporation has established itself as a prominent player in the finance sector. With approximately 39,000 employees, the company offers a wide range of investment management, securities lending, and banking services to institutional investors and financial institutions worldwide. State Street Corporation has generated significant revenue, amounting to 11.7 billion dollars. Through its comprehensive suite of financial solutions, the company continues to deliver innovative and tailored services to meet the evolving needs of its clients in the finance industry.
#23 BlackRock Inc
Employees: 16K
Revenue: 14B$
Website: https://www.blackrock.com/
Description: BlackRock Inc is a leading financial conglomerate operating in the Finance industry. Headquartered in New York City, United States, BlackRock was founded in 1988. With a workforce of approximately 16,000 employees, the company is dedicated to providing a wide range of financial services to its clients. BlackRock offers investment management, risk management, and advisory services to institutional investors and individual investors. The company's expertise lies in managing assets such as equities, fixed income, alternatives, and money market funds. With a revenue of 14 billion dollars, BlackRock has established itself as one of the largest financial firms globally, serving clients in over 100 countries. Through its comprehensive suite of financial services, BlackRock aims to deliver strong investment performance and help clients achieve their financial goals.
#22 Mastercard Incorporated
Employees: 20K
Revenue: 15B$
Website: https://www.mastercard.com
Description: Mastercard Incorporated, headquartered in Purchase, United States, is a leading player in the Financial Conglomerates industry. Founded in 1966, the company has grown to have approximately 20,000 employees worldwide. With a revenue of 15 billion dollars, Mastercard offers a range of financial services and solutions to consumers, businesses, and governments. The company operates in the global payment industry, providing payment processing services, technology platforms, and transaction solutions to facilitate electronic fund transfers. Mastercard's innovative products and services have revolutionized the way people make payments, offering convenience, security, and efficiency in the digital age. With its strong presence in the industry, Mastercard continues to drive financial inclusion, foster economic growth, and shape the future of digital commerce.
#21 ING Group
Employees: 52K
Revenue: 18.8B$
Website: https://www.ing.com
Description: ING Group is a leading financial conglomerate based in Amsterdam, Netherlands. With a history dating back to 1991, ING Group operates in the Finance industry and provides a wide range of financial services including banking, insurance, and asset management. The company has a strong presence in Europe and serves millions of customers worldwide. With 52,000 employees, ING Group is committed to delivering innovative and sustainable financial solutions to meet the evolving needs of its customers. In 2020, the company reported a revenue of 18.8 billion US dollars, showcasing its significant market position and financial strength.
#20 Fidelity Investments
Employees: 50K
Revenue: 20B$
Website: https://www.fidelity.com/
Description: Fidelity Investments, headquartered in Boston, United States, is a prominent player in the Financial Conglomerates industry. Founded in 1946, the company has grown to employ approximately 50,000 individuals globally. With an annual revenue of around 20 billion US dollars, Fidelity Investments offers a wide range of financial services including investment management, retirement planning, brokerage services, and wealth management. The company is known for its innovative products and solutions, providing customers with access to a diverse portfolio of investment options. Fidelity Investments has established a strong reputation for its commitment to customer service and has become a trusted name in the finance industry.
#19 Visa Inc
Employees: 19K
Revenue: 23B$
Website: https://usa.visa.com/
Description: Visa Inc, headquartered in San Francisco, United States, is a leading company in the Financial Conglomerates industry. Founded in 1958, Visa operates as a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories. With a workforce of approximately 19,000 employees, Visa generates a revenue of 23 billion dollars. The company provides secure and reliable electronic payment solutions, including credit and debit cards, digital wallets, and contactless payment technologies. Visa plays a crucial role in enabling seamless and convenient transactions, promoting financial inclusion, and driving economic growth worldwide.
#18 Credit Suisse Group AG
Employees: 48K
Revenue: 24B$
Website: https://www.credit-suisse.com
Description: Credit Suisse Group AG, headquartered in Zurich, Switzerland, is a prominent player in the Financial Conglomerates industry. With a history dating back to 1856, the company has established itself as a leading financial institution. Credit Suisse operates globally, offering a wide range of financial services including investment banking, private banking, asset management, and wealth management. The company has a significant presence in Europe, the Americas, and Asia Pacific, serving clients that include corporations, institutions, governments, and high-net-worth individuals. With a workforce of approximately 48,000 employees, Credit Suisse generates impressive annual revenues of around 24 billion dollars.
#17 Societe Generale
Employees: 138K
Revenue: 25B$
Website: https://www.societegenerale.com
Description: Societe Generale, headquartered in Paris, France, is a major player in the Financial Conglomerates industry. With a history dating back to 1864, the company has established itself as a leading financial institution. Societe Generale operates in various sectors within the finance industry, including retail banking, corporate and investment banking, asset management, and insurance. With a workforce of approximately 138,000 employees, the company offers a wide range of financial services to individuals, businesses, and institutional clients. In 2020, Societe Generale reported a revenue of 25 billion dollars, solidifying its position as a prominent player in the global financial market.
#16 Barclays PLC
Employees: 83K
Revenue: 26.3B$
Website: https://www.barclays.co.uk/
Description: Barclays PLC, headquartered in London, United Kingdom, is a leading financial conglomerate operating in the finance industry. Founded in 1690, Barclays has established itself as a prominent player in the global financial market. With approximately 83,000 employees, the company offers a wide range of financial services, including retail banking, investment banking, corporate banking, and wealth management. Barclays has a strong presence in Europe and operates globally, providing its services to individuals, businesses, and institutions. The company has achieved substantial revenue of 26.3 billion USD, reflecting its position as a major player in the finance industry.
#15 UBS Group AG
Employees: 70K
Revenue: 30B$
Website: https://www.ubs.com
Description: UBS Group AG is a leading financial conglomerate headquartered in Zurich, Switzerland. With a history dating back to 1862, UBS has established itself as a prominent player in the finance industry. Employing approximately 70,000 individuals globally, UBS offers a wide range of financial services including wealth management, investment banking, asset management, and retail banking. The company generates substantial revenue, with an estimated annual revenue of 30 billion US dollars. UBS is known for its strong presence in the European financial market and continues to expand its global reach. With a commitment to delivering innovative solutions and exceptional client service, UBS remains a key player in the financial conglomerates industry.
#14 Goldman Sachs Group Inc
Employees: 40K
Revenue: 36B$
Website: https://www.goldmansachs.com
Description: Goldman Sachs Group Inc is a leading financial conglomerate headquartered in New York City, United States. Founded in 1869, the company has established itself as a prominent player in the finance industry. With around 40,000 employees, Goldman Sachs operates across various sectors within the financial conglomerates industry. The company offers a wide range of financial services including investment banking, securities trading, asset management, and consumer banking. Known for its expertise in mergers and acquisitions, Goldman Sachs has been involved in numerous high-profile deals. With a revenue of approximately 36 billion dollars, the company continues to thrive as a major player in the global financial market.
#13 Mitsubishi UFJ Financial Group Inc
Employees: 150K
Revenue: 40B$
Website: https://www.mufg.jp/english/
Description: Mitsubishi UFJ Financial Group Inc, headquartered in Tokyo, Japan, is a leading financial conglomerate operating in the finance industry. Founded in 1919, the company has a workforce of approximately 150,000 employees. With a revenue of 40 billion USD, Mitsubishi UFJ Financial Group offers a wide range of financial services including banking, asset management, insurance, and securities. The company's comprehensive portfolio of services caters to individuals, corporations, and institutions, providing them with innovative solutions and expertise in various financial domains. Mitsubishi UFJ Financial Group's strong presence in the industry and commitment to excellence have established it as a key player in the global finance sector.
#12 Morgan Stanley
Employees: 60K
Revenue: 41B$
Website: https://www.morganstanley.com
Description: Morgan Stanley is a leading financial services firm headquartered in New York City, United States. With a history dating back to 1935, the company operates in the Financial Conglomerates industry, providing a wide range of financial services including investment banking, wealth management, and institutional securities. Morgan Stanley has a workforce of approximately 60,000 employees and generates annual revenue of around 41 billion dollars. The company is known for its global presence and expertise in capital markets, serving clients across the globe with innovative financial solutions and advisory services.
#11 American Express Company
Employees: 55K
Revenue: 41B$
Website: https://www.americanexpress.com
Description: American Express Company, headquartered in New York City, United States, is a prominent player in the Financial Conglomerates industry. Founded in 1850, the company has grown to become a leading provider of financial products and services. With approximately 55,000 employees, American Express operates globally, offering a wide range of credit cards, charge cards, traveler's cheques, and other payment solutions. The company generates substantial revenue, with an annual revenue of around 41 billion dollars. American Express is known for its strong brand recognition, customer loyalty programs, and innovative digital payment solutions, making it a significant player in the finance industry.
#10 Banco Santander SA
Employees: 200K
Revenue: 49B$
Website: https://www.santander.com/
Description: Banco Santander SA is a financial conglomerate headquartered in Madrid, Spain. With a history dating back to 1857, the company operates in the finance industry, offering a wide range of financial services and products. Banco Santander is one of the largest banks in Europe and has a significant presence in the Americas. With approximately 200,000 employees, the company serves millions of customers worldwide. In the financial year, Banco Santander reported a revenue of 49 billion US dollars.
#9 AIG
Employees: 45K
Revenue: 49.5B$
Website: https://www.aig.com
Description: AIG is a leading player in the Financial Conglomerates industry, headquartered in New York City, United States. Founded in 1919, the company has established itself as a prominent player in the global financial market. With approximately 45,000 employees, AIG operates across various sectors within the finance industry, providing a wide range of insurance and financial services. The company's diverse portfolio includes life insurance, property and casualty insurance, retirement products, and mortgage insurance. AIG's strong presence in North America and its global reach make it a key player in the Financial Conglomerates sector. With an annual revenue of 49.5 billion dollars, AIG has consistently demonstrated its financial strength and stability in the market.
#8 Prudential Financial Inc
Employees: 40K
Revenue: 56B$
Website: https://www.prudential.com
Description: Prudential Financial Inc is a leading financial conglomerate operating in the Finance industry. Headquartered in Newark, United States, the company was founded in 1875. With approximately 40,000 employees, Prudential Financial Inc offers a wide range of financial services including life insurance, annuities, retirement planning, investment management, and real estate services. The company has established a strong presence in North America and serves millions of customers globally. Prudential Financial Inc has generated significant revenue, reaching 56 billion dollars, making it a major player in the financial services sector. Through its diverse portfolio of offerings, Prudential Financial Inc aims to provide individuals and institutions with the tools and expertise to achieve financial security and success.
#7 Citigroup Inc
Employees: 200K
Revenue: 80B$
Website: https://www.citigroup.com
Description: Citigroup Inc, headquartered in New York City, United States, is a leading financial conglomerate operating in the Finance industry. With a history dating back to 1812, Citigroup has established itself as a prominent player in the global financial market. The company employs approximately 200,000 individuals worldwide and generates an impressive revenue of 80 billion dollars. Citigroup offers a wide range of financial services including banking, investment banking, wealth management, and credit cards. With its extensive network and expertise, Citigroup plays a crucial role in facilitating global financial transactions and providing financial solutions to individuals, corporations, and governments.
#6 Wells Fargo & Company
Employees: 266K
Revenue: 85B$
Website: https://www.wellsfargo.com
Description: Wells Fargo & Company, headquartered in San Francisco, United States, is a leading financial conglomerate in the finance industry. Founded in 1852, the company has a workforce of approximately 266,000 employees. With an annual revenue of 85 billion USD, Wells Fargo provides a wide range of financial services including banking, mortgage, investments, wealth management, and insurance to individuals, businesses, and institutions. As a key player in the financial conglomerates sector, Wells Fargo is recognized for its strong presence in the North American market and its commitment to delivering innovative and customer-centric solutions to meet the evolving needs of its clients.
#5 Bank Of America Corporation
Employees: 209K
Revenue: 91.2B$
Website: https://www.bankofamerica.com
Description: Bank of America Corporation, headquartered in Charlotte, United States, is a leading financial institution operating in the Financial Conglomerates industry. With a history dating back to 1904, the company has established itself as a prominent player in the finance sector. Bank of America provides a wide range of financial services including banking, investment management, and wealth management to individual and institutional customers. The company's extensive global network and diverse product offerings have contributed to its success and position as one of the largest banks in the United States. With over 209,000 employees, Bank of America generates substantial revenue of 91.2 billion dollars, making it a key player in the Financial Conglomerates industry.
#4 JPMorgan Chase & Co
Employees: 255K
Revenue: 115.63B$
Website: https://www.jpmorganchase.com/
Description: JPMorgan Chase & Co is a prominent financial conglomerate operating in the finance industry. Headquartered in New York City, United States, the company has a rich history dating back to its foundation in 1799. With an impressive workforce of 255,000 employees, JPMorgan Chase & Co serves as a global leader in various financial services, including investment banking, asset management, and retail banking. The company's extensive network and diverse range of services enable it to cater to the needs of individuals, corporations, and institutions worldwide. With a revenue of 115.63 billion dollars, JPMorgan Chase & Co continues to thrive and innovate in the ever-evolving financial sector, consistently delivering exceptional value to its clients and stakeholders.
#3 Allianz SE
Employees: 140K
Revenue: 140B$
Website: https://www.allianz.com
Description: Allianz SE, headquartered in Munich, Germany, is a leading player in the Financial Conglomerates industry in Europe. Founded in 1890, Allianz operates in various sectors of the finance industry, including insurance, asset management, and banking. With approximately 140,000 employees, the company serves millions of customers worldwide. Allianz is known for its strong financial performance, generating a revenue of around 140 billion dollars. The company's diverse portfolio and global presence contribute to its position as one of the largest financial conglomerates in the world.
#2 AXA
Employees: 160K
Revenue: 149B$
Website: https://www.axa.com
Description: AXA is a leading financial conglomerate headquartered in Paris, France. With a rich history dating back to 1816, AXA has established itself as a prominent player in the finance industry. The company operates in various sectors within the financial conglomerates industry, including insurance, asset management, and banking. AXA employs approximately 160,000 people worldwide, making it one of the largest employers in the industry. In terms of revenue, AXA generates an impressive 149 billion US dollars, solidifying its position as a major player in the global financial market.
#1 Berkshire Hathaway Inc
Employees: 389K
Revenue: 254B$
Website: https://www.berkshirehathaway.com
Description: Berkshire Hathaway Inc, headquartered in Omaha, United States, is a leading financial conglomerate operating in the Finance industry. Founded in 1839, the company has grown to employ approximately 389,000 individuals globally. With a revenue of 254 billion US dollars, Berkshire Hathaway engages in diverse financial activities such as insurance, reinsurance, investment management, and other financial services. The company's subsidiaries include well-known brands such as GEICO, BNSF Railway, Dairy Queen, and Fruit of the Loom. Berkshire Hathaway's successful investments and acquisitions have made it one of the most renowned and respected conglomerates in the world.
Summary
The financial conglomerates sub-industry is dominated by a few key players who have achieved remarkable success in the finance sector. These companies have consistently ranked among the top in terms of revenue, assets, and market capitalization.
One unexpected finding in the analysis is the resilience of these financial conglomerates during times of economic downturns. These companies have demonstrated the ability to weather financial crises and emerge stronger than before.
Among the premier companies in the financial conglomerates sub-industry are JPMorgan Chase, Bank of America, and Citigroup. These companies have a strong presence in both the banking and insurance sectors, allowing them to offer a wide range of financial services to their clients.
One shared element that drives the prosperity of these leading firms is their ability to leverage synergies between different business units. By integrating banking, insurance, and other financial services, these companies can cross-sell products and benefit from economies of scale.
What sets these eminent companies apart from their industry rivals is their global reach and diversified portfolios. They have expanded their operations beyond domestic markets and have established a presence in key international financial centers. This global footprint allows them to tap into diverse revenue streams and mitigate risks associated with specific regions or industries.