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Encyclopedia > Financial services

Financial services is a term used to refer to the services provided by the finance industry. Financial services is also the term used to describe organizations that deal with the management of money and includes merchant banks, credit card companies, consumer finance companies, government sponsored enterprises, and stock brokerages. Financial services is the largest industry (or industry category) in the world, in terms of earnings; as of 2004, the industry represents 20% of the market capitalization of the S&P 500.[1] Image File history File links Broom_icon. ... Image File history File links Gnome-globe. ... This article is about a term used in economics. ... In banking, a merchant bank is a traditional term for an Investment Bank. ... Look up credit card in Wiktionary, the free dictionary. ... The government sponsored enterprises (GSEs) are a group of financial services corporations created by the United States Congress. ... A Stock broker sells or buys stock on behalf of a customer. ... Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Market capitalization, or market cap, is a measurement of corporate or economic size equal to the stock price times the number of shares outstanding of a public company. ... The S&P 500 is an index containing the stocks of 500 Large-Cap corporations, most of which are American. ...

Contents

History of financial services

United States: Gramm-Leach-Bliley Act

The term financial services became more prevalent in the United States partly as a result of the Gramm-Leach-Bliley Act of the late 1990s, which enabled different types of companies in the US financial services industry to merge. Critics of this act say the term financial services attempts to make the unison of these operations sound natural, ignoring the history of problems that have arisen from combining them, such as conflicts of interest and monopolization[citation needed]. Others, noting that many of the restrictions abolished by the Gramm-Leach-Bliley Act had never existed in other countries or had been abolished earlier than in the US, say the term financial services is a natural one, in long term use, which means nothing more than its constituent words[citation needed]. The Gramm-Leach-Bliley Act, also known as the Gramm-Leach-Bliley Financial Services Modernization Act, Pub. ... For the band, see 1990s (band). ... A conflict of interest is a situation in which someone in a position of trust, such as a lawyer, a politician, or an executive or director of a corporation, has competing professional or personal interests. ... This article is about the economic term. ...


In the USA almost every company now which previously described themselves as a bank, insurance company, or brokerage house, now describes themselves in some way as a financial services institution. Allstate Insurance, for example, now provides CDs and investment brokerage services. Bank of America offers full-featured brokerage products, while E*TRADE has expanded into offering bank accounts and loans. Companies usually have two distinct approaches to this new type of business. One approach would be a bank which simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the acquisition to its holding company simply to diversify its earnings. Outside the U.S., e.g., in Japan, non-financial services companies are permitted within the holding company. In this scenario, each company still looks independent, and has its own customers, etc. This is essentially the style of Citigroup and JP Morgan Chase. The Allstate Corporation (NYSE: ALL) is the largest publicly held personal lines insurer in the United States. ... A certificate of deposit or CD is, in the United States, a time deposit, a familiar financial product, commonly offered to consumers by banks, thrift institutions, and credit unions. ... Bank of America (NYSE: BAC TYO: 8648) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. ... E*TRADE Financial Corporation (NASDAQ: ETFC) is a financial services company based in New York, NY, United States. ... A bank account is a monetary account with a banking institution recording the balance of money for a customer. ... For other uses, see Loan (disambiguation). ... For other uses, see Brand (disambiguation). ... Income, generally defined, is the money that is received as a result of the normal business activities of an individual or a business. ... Citigroup Inc. ... J.P. Morgan Chase & Co. ...


In the other style, a bank would simply create its own brokerage division or insurance division and attempt to sell those products to its own existing customers, with incentives for combining all things with one company. This is the style of Washington Mutual and Wells Fargo. “WaMu” redirects here. ... An older Wells Fargo branch, located in Berkeley, California Wells Fargos corporate headquarters and main branch Wells Fargo & Co. ...


Banking services: What do banks do?

Main article: Bank

The primary operations of banks include: For other uses, see Bank (disambiguation). ...

  • Keeping money safe while also allowing withdrawals when needed
  • Issuance of checkbooks so that bills can be paid and other kinds of payments can be delivered by post
  • Provision of loans and mortgage loans (typically loans to purchase a home, property or business)
  • Issuance of credit cards
  • Allow financial transactions at branches or by using Automatic Teller Machines (ATMs)
  • Facilitation of standing orders and direct debits, so payments for bills can be made automatically
  • Provide overdraft agreements for the temporary advancement of the Bank's own money to meet monthly spending commitments of a customer in their current account.
  • Provide Charge card advances of the Bank's own money for customers wishing to settle credit advances monthly.
  • Provide a cheque guaranteed by the Bank itself and prepaid by the customer, such as a cashier's check or certified check.

A mortgage loan is a loan secured by real property through the use of a mortgage (a legal instrument). ... Outdoor ATMs may be free-standing, like this kiosk, or built into the side of banks or other buildings An automatic teller machine, automated teller machine (ATM) or cash machine is an electronic device that allows a banks customers to make cash withdrawals and check their account balances without... link title Debit is an accounting and bookkeeping term that comes from the Latin word debere which means to owe. ... A cashiers check (also known as a bank check, official check, tellers check, or treasurers check) is a check issued by a bank on its own account for the amount paid to the bank by the purchaser with a named payee, and stating the name of the... This page is a candidate for speedy deletion, because: it contains no useful content If you disagree with its speedy deletion, please explain why on its talk page or at Wikipedia:Speedy deletions. ...

Commercial bank

A commercial bank is what is commonly considered a 'bank'. The term 'commercial' is used to distinguish it from an 'investment bank', a type of financial services entity which, instead of lending money directly to a business, helps businesses raise money from other firms in the form of bonds (debt) or stock (equity). Major commercial banks include: A commercial bank is a type of financial intermediary and a type of bank. ... This article does not cite any references or sources. ... For alternative meanings, see bond (a disambiguation page). ... For other uses, see Stock (disambiguation). ...


Top ten banking groups in the world ranked by tier 1 capital

Top ten banks in the world (as at end-2006) according to The Economist:[2] Tier 1 capital is the core measure of a banks financial strength from a regulators point of view. ... The Economist is an English-language weekly news and international affairs publication owned by The Economist Newspaper Ltd and edited in London. ...

Rank Company Tier 1 Capital
(US$ billions)
Country
1. Bank of America 91 US
2. Citigroup 90 US
3. HSBC 88 UK
4. Credit Agricole Group 85 France
5. JPMorgan Chase 81 US
6. Mitsubishi UFJ Financial Group 69 Japan
7. ICBC 59 China
8. Royal Bank of Scotland 59 UK
9. Bank of China 52 China
10. Banco Santander 47 Spain

The United States dollar is the official currency of the United States. ... Bank of America (NYSE: BAC TYO: 8648) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. ... Citigroup Inc. ... For other uses, see HSBC (disambiguation). ... Logo Credit Agricole Crédit Agricole SA (CASA) (Euronext: ACA) is the largest banking group in France, fourth biggest in Europe and the sixth largest in the world according to Global Finance magazine. ... JPMorgan Chase (NYSE: JPM) is one of the oldest financial services firms in the world. ... Mitsubishi UFJ Financial Group, Incorporated ) (TYO: 8306 NYSE: MTU ), or MUFG, is one of the worlds largest banks with assets of around USD $1. ... This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... The Royal Bank of Scotland Plc (Scottish Gaelic: [1]) is one of the retail banking subsidiaries of Royal Bank of Scotland Group plc, which together with NatWest, provides branch banking facilities in the United Kingdom. ... Bank of China Limited (BOC) SEHK: 3988 (Simplified Chinese: ; Traditional Chinese: ; pinyin: ; often abbreviated as 中行) is one of the big four state-owned commercial banks of the Peoples Republic of China. ... Banco Santander Central Hispano is the largest bank in Spain and now has large scale operations in both the continents of Europe and South America. ...

Private banking

The term private bank is simply a marketing term for a bank or a division of a financial services company targeted towards wealthy individuals. Often it is used to describe specifically the lending services targeted towards this group, such as large margin loans.


This table displays the results of the Ultra high net worth (US$30m+) category of the 2006 private banking awards:[3] The United States dollar is the official currency of the United States. ...

Rank 06 Company Rank 05
1. JPMorgan Private Bank 1
2. Goldman Sachs 3
3. UBS 2
4. Citigroup Private Bank 4
5. Credit Suisse Private Banking 5
6. HSBC Private Bank 7
7. Pictet & Cie 6
8. Merrill Lynch n
9. Rothschild 8
10. ABN Amro Private Banking 10

Ranking: 'n' denotes 'nominated' JPMorgan Chase (NYSE: JPM) is one of the oldest financial services firms in the world. ... The Goldman Sachs Group, Inc. ... UBS can refer to: UBS AG, a banking group Unbundled Bitstream Services United Building Society - the name of several financial institutions in different countries around the world. ... The Citigroup Private Bank provides personalized wealth management services for affluent clients who include many of the world’s most influential entrepreneurs, families and senior corporate executives. ... The Credit Suisse Group (SWX:CSGN, NYSE: CS) is a financial services company, headquartered in Zürich, Switzerland. ... HSBC Holdings PLC (匯豐控股有限公司) (NYSE: HBC, LSE: HSBA, HKEx: 005, Euronext: HSBC) is one of the largest banking groups in the world. ... Merrill Lynch & Co. ... This does not cite its references or sources. ...


Capital market banks

Capital market banks underwrite debt and equity, assist company deals (advisory services, underwriting and advisory fees), and restructure debt into structured finance products. Prominent amongst them include: Debt & Equity underwriting Debt and equity underwriting is the concept of securing the price and sale of a new issue of stocks or bonds. ... For other uses, see Stock (disambiguation). ... Structured finance describes any non-standard way of raising money. ...

See also: Mergers & acquisitions Barclays Capital is the investment banking division of Barclays Bank plc. ... The Bear Stearns Companies, Inc. ... Citigroup Inc. ... This article deals with Salomon Brothers. ... Credit Suisse First Boston (CSFB) is a bulge bracket New York City based investment banking and financial services firm. ... The Goldman Sachs Group, Inc. ... Look up -ing in Wiktionary, the free dictionary. ... JPMorgan Chase (NYSE: JPM) is one of the oldest financial services firms in the world. ... Lehman Brothers Holdings Inc. ... Merrill Lynch & Co. ... Morgan Stanley (NYSE: MS) is one of the largest and the most reputed investment banks headquartered in New York City. ... Nomura (野村 or 乃村 or 埜村) is a Japanese surname. ... UBS AG (NYSE: UBS; SWX: UBSN; TYO: 8657) is a diversified global financial services company, with its main headquarters in Basel & Zürich, Switzerland. ... The phrase mergers and acquisitions (M&A) refers to the aspect of business strategy and management dealing with the merging and/or acquiring of different companies. ...


Bank cards

Bank cards include both credit cards and debit cards. Bank Of America is the largest issuer of bank cards.[citation needed] Look up credit card in Wiktionary, the free dictionary. ... Look up debit card in Wiktionary, the free dictionary. ...

American Express (NYSE: AXP), sometimes known as AmEx or Amex, is a diversified global financial services company, headquartered in New York City. ... Barclaycard logo Barclaycard is a global credit provider (credit cards and loans) owned by Barclays plc in the UK. The Barclaycard was the first credit card introduced in the UK, coming into service in 1966. ... Capital One Financial Corp. ... Discover Network acceptance mark Discover Card is one of the four major credit card brands issued primarily in the United States, with over 50 million cardholders. ... For other uses, see HSBC (disambiguation). ... Intelligent Finance (IF) is a telephone and internet based commercial bank in the United Kingdom, a division of Halifax plc which is part of HBOS plc. ... MasterCard Worldwide (NYSE: MA) is a multinational corporation based in Purchase, NY in the United States. ... “WaMu” redirects here. ... Visa is a brand of credit card and debit card operated by the Visa International Service Association of San Francisco, California, USA, an economic joint venture of 21,000 financial institutions that issue and market Visa products. ...

Credit card machine services and networks

Companies which provide credit card machine and payment networks call themselves "merchant card providers". These include:

BA Merchant Services, LLC is a wholly owned subsidiary of Bank of America specializing in handling credit, debit, stored value, and electronic benefits transfer (EBT) card transactions. ... First Data Corporation (NYSE: FDC) is a payment processing company based in Greenwood Village, Colorado. ... Heartland Payment Systems, Inc. ... U.S. Bancorp (NYSE: USB) is a financial services holding company, headquartered in Minneapolis, Minnesota. ...

Investment services

Asset management

Main article: Investment management

Asset management is the term usually given to describe companies which run collective investment funds. Investment management is the professional management of various securities (shares, bonds etc) assets (e. ... A collective investment scheme is a way of investing money with other people to participate in a wider range of investments than may be feasible for an individual investor and to share the costs of doing so. ...


The following is Global Investor’s 2005 ranking of the top 10 investment managers by assets under management:[4]

Rank Company Assets under management
(US$million)
Country
1. Barclays Global Investors 1,400,491 UK
2. State Street Global Advisors 1,367,269 US
3. Fidelity Investments 1,299,400 US
4. Capital Group Companies 1,050,435 US
5. The Vanguard Group 852,000 US
6. Allianz Global Investors 790,513 Germany
7. JPMorgan Asset Management 782,646 US
8. Mellon Financial Corporation 738,294 US
9. Deutsche Asset Management 723,366 Germany
10. Northern Trust Global Investments 589,800 US

The United States dollar is the official currency of the United States. ... Barclays Global Investors is a division of British based Barclays Bank which specialises in asset management. ... State Street Global Advisors (SSgA) is the investment management division of State Street Corporation and the world’s largest institutional asset manager[1]. As of December 31, 2006, SSgA had $1. ... Fidelity Investments is a group of privately held companies in the financial services industry. ... The Capital Group Companies is one of the world’s largest and most successful investment management organizations. ... Vanguard is a United States investment management company that offers mutual funds and other financial products and services to individual and institutional investors in the United States and abroad. ... Allianz AG, (NYSE: AZ; IPA pronunciation: [alliˈanʦ]) is a large financial service provider headquartered in Munich, Germany. ... JPMorgan Chase & Co. ... Mellon Financial Corporation, NYSE: MEL based in Pittsburgh, Pennsylvania, is engaged in the business of institutional and high-net-worth-individual asset management, including the Dreyfus family of mutual funds; business banking; and shareholder and investor services. ... Deutsche Bank AG NYSE: DB (German for German Bank) is a multinational bank operating worldwide and employing almost 64,000 people (Dec. ... Northern Trust Corporation NASDAQ: NTRS is a financial services company, headquartered in Chicago, providing fiduciary, banking and investment services for individuals and credit, operating, custody, trust and investment management services for organizations. ...

Hedge fund managers

A hedge fund is a private investment fund charging a performance fee and typically open to only a limited range of qualified investors. ... BlackRock Inc. ... Cargill, Incorporated is a privately held, multinational corporation, and is based in the state of Minnesota in the United States. ... Citadel Investment Group is a $13. ... Man Group plc (LSE: EMG) is one of the worlds largest futures contract brokers and a leading global provider of alternative investment products. ... Mellon Financial Corporation, NYSE: MEL based in Pittsburgh, Pennsylvania, is engaged in the business of institutional and high-net-worth-individual asset management, including the Dreyfus family of mutual funds; business banking; and shareholder and investor services. ... Mizuho Holdings, Inc. ... Renaissance Technologies is a hedge fund management company. ... Soros Fund Management LLC, founded by George Soros, is a privately held corporation providing financial services and investment strategies for various funds including some controversial hedge funds such as the Quantum Group of Funds. ... UBS AG (NYSE: UBS; SWX: UBSN; TYO: 8657) is a diversified global financial services company, with its main headquarters in Basel & Zürich, Switzerland. ...

Custody services

Custody services and securities processing is a kind of 'back-office' administration for financial services. Assets under custody in the world was estimated to $65 trillion at the end of 2004.[5] Firms engaged in custody services include:

State Street Corporation (NYSE: STT) is a financial services company based in Boston, Massachusetts. ... The Bank of New York (NYSE: BK), sometimes BNY, is a global financial services company operating in four primary business areas: Securities servicing Treasury management Investment management Private banking Bank of New York and Mellon Financial Corporation will merge. ... This company has completed its merger with Bank of New York for current information, See The Bank of New York Mellon Corporate headquarters, One Mellon Center in Pittsburgh, at night. ... JPMorgan Chase (NYSE: JPM) is one of the oldest financial services firms in the world. ... PNC Financial Services (NYSE:PNC) is a U.S.-based financial services corporation, with assets of $92. ...

Insurance

Main article: Insurance

Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. ...

Insurance brokerage

Insurance brokers shop for insurance (generally corporate property and casualty insurance) on behalf of customers. Significant companies in this sector of the financial services market include: An insurance broker sources (brokes) contracts of insurance on behalf of their customers. ...

To meet Wikipedias quality standards, this article or section may require cleanup. ... Marsh & McLennan Companies, Inc. ... For Moravian settlements in North Carolina, see Wachovia, North Carolina. ... An older Wells Fargo branch, located in Berkeley, California Wells Fargos corporate headquarters and main branch Wells Fargo & Co. ...

Insurance underwriting

Personal lines insurance underwriters actually underwrite insurance for individuals, a service still offered primarily through agents, insurance brokers, and stock brokers. Underwriters may also offer similar commercial lines of coverage for businesses. Activities include insurance and annuities, life insurance, retirement insurance, health insurance, and property & casualty insurance. Some well known insurers include: In banking, underwriting is the detailed credit analysis preceding the granting of a loan, based on credit information furnished by the borrower, such as employment history, salary, and financial statements; publicly available information, such as the borrowers credit history, which is detailed in a credit report; and the lender... An insurance broker sources (brokes) contracts of insurance on behalf of their customers. ... A Stock broker sells or buys stock on behalf of a customer. ... Annuity contracts are offered by organizations and individuals that may accumulate value and take a current value and pay it out over a period of years. ... Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the policy owners death. ... Health insurance is a form of group insurance, where individuals pay premiums or taxes in order to help protect themselves from high or unexpected healthcare expenses. ... Property & casualty insurance is an insurance industry term for companies to define the type of products they provide and what category amoung insurance company they are. ...

  SE[1], (ISIN: DE0008404005; IPA pronunciation: [alliˈanʦ], and formerly AG) is a large financial service provider headquartered in Munich, Germany. ... The Allstate Corporation NYSE: ALL is the largest publicly held personal lines insurer in the United States. ... American International Group, Inc. ... Not to be confused with Sun Life Financial. ... Berkshire Hathaway (NYSE: BRKA, NYSE: BRKB) is a conglomerate holding company headquartered in Omaha, Nebraska, U.S., that oversees and manages a number of subsidiary companies. ... Diversity Chubb Corporation received a 100% rating on the Corporate Equality Index released by the Human Rights Campaign starting in 2004, the third year of the report. ... Aviva is the worlds seventh-largest insurance group and the biggest in the UK. It is one of the leading providers of life and pensions products to Europe and has substantial businesses elsewhere around the world. ... Fraternal Forestry is a term for a movement of fraternal organizations (or friendly societies) marked by a confusing history of merger, separation and charitable activity throughout Canada, the United States and the United Kingdom. ... The Government Employees Insurance Company, usually known by the acronym GEICO, is an American auto insurance company. ... MetLife, Inc. ... Enumclaw Insurance Group is an insurance company doing business in the U.S. states of Washington, Oregon, Idaho, and Utah. ... The New York Life Insurance Company was founded in 1841 as the Nautilus Insurance Company in New York City, with assets of just $17,000. ... Safeco Corporation (NYSE: SAF) is a major American national insurance company. ... State farm can refer to: Sovkhoz, a type of collective farm in the Soviet Union State Farm Insurance, an insurance company in the United States This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... Zurich Financial Services Group is a major financial services group based in Zurich, Switzerland. ...

Reinsurance

Reinsurance is insurance sold to insurers themselves, to protect them from catastrophic losses. Firms in this sector include: Reinsurance is a means by which an insurance company can protect itself against the risk of losses with other insurance companies. ...

See also: Underwriting General Re is a reinsurance company. ... It has been suggested that Council of Lloyds be merged into this article or section. ... Headquarters in Munich Munich Re AG, in German Münchener Rück AG, is one of the worlds largest reinsurance companies with over 5000 customers in 160 countries and has its headquarters in Munich, Germany. ... 30 St Mary Axe - at 180 m, Swiss Res London headquarters is the 6th tallest building in London Swiss Re is the worlds second-largest reinsurance company (after Munich Re/ Münchener Rück), and the worlds largest life and health reinsurer. ... Aon Corporation is a NYSE-listed and leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. ... Towers Perrin is a global professional services firm. ... Underwriting refers to the process that a large financial service provider (bank, insurer, investment house) uses to assess the eligibility of a customer to receive their products like equity capital, insurance or credit to a customer. ...


Intermediation or advisory services

Stock brokers (private client services) and discount brokers

Stock brokers assist people in investing, online only companies are called 'discount brokerages', companies with a branch presence are called 'full service brokerages' or 'private client services. Some of these are:

  • Ameritrade IZone - a subsidiary of Ameritrade

Other low-cost brokerages that function in a similar way to a dividend reinvestment program include: A.G. Edwards, Inc. ... TD Ameritrade Holding Corporation is the owner of Ameritrade Inc. ... Charles Schwab can refer to: Charles M. Schwab, 19th century industrialist and financier. ... E*TRADE Financial Corporation (NASDAQ: ETFC) is a financial services company based in New York, NY, United States. ... Edward D. Jones, Sr. ... Merrill Lynch & Co. ... Morgan Stanley (NYSE: MS) is one of the largest and the most reputed investment banks headquartered in New York City. ... Smith Barney is a division of Citigroup Global Capital Markets Inc. ... A dividend reinvestment program or dividend reinvestment plan (DRIP) is an equity investment option offered directly from the underlying company. ...

Edgar, Dunn & Company (EDC) is a global management consulting company, focusing on the financial services industry. ... FolioFN is a financial company based in the Tysons Corner, Virginia suburb of Washington DC. Founded in 1998 by Steven Wallman, it gives investors a choice which is neither commission-based nor a mutual fund. ... “GE” redirects here. ... ShareBuilder is a web-based stock brokerage firm which allows recurring, automatic purchases of shares of stock and exchange-traded funds. ...

Conglomerates

A financial services conglomerate is a financial services firm that is active in more than one sector of the financial services market e.g. life insurance, general insurance, health insurance, asset management, retail banking, wholesale banking, investment banking, .....


A key rationale for the existence of such businesses is the existence of diversification benefits that are present when different types of businesses are aggregated i.e. bad things don't always happen at the same time. As a consequence, economic capital for a conglomerate is usually substantially less than economic capital is for the sum of its parts. Capital has a number of related meanings in economics, finance and accounting. ... Capital has a number of related meanings in economics, finance and accounting. ...


Financial Crime

UK

Fraud within the financial industry costs the UK an estimated £14bn a year and it is believed a further £25bn is laundered by British institutions.[6]


Market share

The financial services industry constitutes the largest group of companies in the world in terms of earnings and equity market cap. However it is not the largest category in terms of revenue or number of employees. It is also a slow growing and extremely fragmented industry, with the largest company (Citigroup), only having a 3 % US market share.[7] Citigroup Inc. ... Market share, in strategic management and marketing, is the percentage or proportion of the total available market or market segment that is being serviced by a company. ...


In contrast, the largest home improvement store in the US, Home Depot, has a 30 % market share, and the largest coffee house Starbucks has a 32 % market share, etc. Despite this fragmentation, financial service companies as a group are by far the most profitable in the world, and if any grew to the same market share percentages as any other retail industry, the potential profit would be large. The Home Depot (NYSE: HD) is an American retailer of home improvement and construction products and services. ... For other meanings of the name Starbuck, see Starbuck. ...


2004

S&P 500 index market capitalization in 2004:[8]

  • Financial Services: 20.30%
  • (Computer hardware & software: 15.30%) (as comparison to 1999)
  • Healthcare: 13.40%
  • Industrial Materials: 12.20%
  • Hardware (computer hardware): 10.80%
  • Consumer Goods: 9.70%
  • Consumer Services: 8.80%
  • Energy: 6.50%
  • Software: 4.50%
  • Business Services: 3.90%
  • Media: 3.90%

1999

S&P 500 index (500 large American companies) market cap in 1999:[9]

  • Technology (hardware, software): 29.8%
  • Financial: 13.1%
  • Consumer Staples: 11%
  • Consumer Cyclicals: 9.2%
  • Healthcare: 9%
  • Capital Goods: 8.4%
  • Communication Services: 8%
  • Energy  : 5.5%
  • Basic Materials: 3%
  • Utilities: 2.3%
  • Transportation: 0.7%

Brand equity

Each year, BusinessWeek and Interbrand publish their 100 Best Global Brands study, ranking the financial value of brands. The following are the financial services companies in this list, ranked by this study for 2006:[10] BusinessWeek is a business magazine published by McGraw-Hill. ... Interbrand, a division of Omnicom, is the leading branding company in the world. ... This article is about the marketing concept. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...

Rank Brand Brand value
(US$billion)
Annual
change
2005
Rank
Country
of origin
11 Citigroup 21.46 7% 12 U.S.
14 American Express 19.64 6% 14 U.S.
21 Merrill Lynch 13.00 8% 25 U.S.
28 HSBC 11.62 11% 29 U.K.
33 J.P. Morgan 10.21 8% 34 U.S.
36 Morgan Stanley 9.76 0% 33 U.S.
37 Goldman Sachs 9.64 13% 37 U.S.
42 UBS 8.73 15% 44 Switzerland
87 ING 3.47 9% 87 Netherlands

The United States dollar is the official currency of the United States. ... Citigroup Inc. ... For other uses of terms redirecting here, see US (disambiguation), USA (disambiguation), and United States (disambiguation) Motto In God We Trust(since 1956) (From Many, One; Latin, traditional) Anthem The Star-Spangled Banner Capital Washington, D.C. Largest city New York City National language English (de facto)1 Demonym American... American Express (NYSE: AXP), sometimes known as AmEx or Amex, is a diversified global financial services company, headquartered in New York City. ... For other uses of terms redirecting here, see US (disambiguation), USA (disambiguation), and United States (disambiguation) Motto In God We Trust(since 1956) (From Many, One; Latin, traditional) Anthem The Star-Spangled Banner Capital Washington, D.C. Largest city New York City National language English (de facto)1 Demonym American... Merrill Lynch & Co. ... For other uses of terms redirecting here, see US (disambiguation), USA (disambiguation), and United States (disambiguation) Motto In God We Trust(since 1956) (From Many, One; Latin, traditional) Anthem The Star-Spangled Banner Capital Washington, D.C. Largest city New York City National language English (de facto)1 Demonym American... For other uses, see HSBC (disambiguation). ... “UK” redirects here. ... John Pierpont Morgan (April 17, 1837 – March 31, 1913), American financier and banker, was born in Hartford, Connecticut, a son of Junius Spencer Morgan (1813–1890), who was a partner of George Peabody and the founder of the house of J. S. Morgan & Co. ... For other uses of terms redirecting here, see US (disambiguation), USA (disambiguation), and United States (disambiguation) Motto In God We Trust(since 1956) (From Many, One; Latin, traditional) Anthem The Star-Spangled Banner Capital Washington, D.C. Largest city New York City National language English (de facto)1 Demonym American... Morgan Stanley (NYSE: MS) is one of the largest and the most reputed investment banks headquartered in New York City. ... For other uses of terms redirecting here, see US (disambiguation), USA (disambiguation), and United States (disambiguation) Motto In God We Trust(since 1956) (From Many, One; Latin, traditional) Anthem The Star-Spangled Banner Capital Washington, D.C. Largest city New York City National language English (de facto)1 Demonym American... The Goldman Sachs Group, Inc. ... For other uses of terms redirecting here, see US (disambiguation), USA (disambiguation), and United States (disambiguation) Motto In God We Trust(since 1956) (From Many, One; Latin, traditional) Anthem The Star-Spangled Banner Capital Washington, D.C. Largest city New York City National language English (de facto)1 Demonym American... UBS AG (NYSE: UBS; SWX: UBSN; TYO: 8657) is a diversified global financial services company, with its main headquarters in Basel & Zürich, Switzerland. ... ING House, ING headquarters in Amsterdam ING Groep N.V. (NYSE: ING, Euronext: INGA) (known as ING Group) is a financial institution of Dutch origin offering banking, insurance and asset management services. ...

Glossary

Glossary for reading financial services reports:

  • Asset sensitive - a financial institution that has a negative duration of equity may also be described as having a positive gap or as being asset sensitive.
  • Charge-offs - written off debt
  • Cost of funds - the cost of loan capital, the cost of funding assets; free liabilities include interest free checking accounts
  • Liability sensitive - the inverse of asset sensitive.
  • Operating leverage - a simple indication of a firm' s earnings strength; usually measuring the operating income as a percentage of gross income

A duration is an amount of time or a particular time interval. ... In accounting, writing off is the expensing of a balance sheet asset (item) that has no future benefits. ... Includes demand deposits, ATS, NOW, and other checkable deposits. ... The operating leverage is the fixed cost operating expenses as a percentage of revenue: operating expense/revenue. ... EBIT stands for Earnings before Interest and Taxes (operating income). ... Gross income is commonly defined as the amount of a companys or a persons income before all deductions or any taxpayer’s income, except that which is specifically excluded by the Internal Revenue Code, before taking deductions or taxes into account. ...

Acronyms

  • NCL - net credit losses - cost of charge-offs, written off debt[11]
  • NCL rate - net credit loss rate - the percentage of the lending portfolio that is not expected to be repaid[12]
  • NII - net interest income - interest income less interest cost
  • NIM - net interest margin - margin between interest income and interest cost
  • NPA - non performing assets - interest bearing assets not paying interest

In accounting, writing off is the expensing of a balance sheet asset (item) that has no future benefits. ... NIM - Short for Net Interest Margin, is the name given to a resecuritization of existing residual interest(s) from transactions that are structured with Excess Spread. ...

Companies

Citigroup Inc. ... Primerica Financial Services, a wholly owned subsidiary of Citigroup, is a General Agency with a business model that includes some features of multi-level marketing[1]. Its company headquarters are in Duluth, Georgia. ... Ameriprise Financial, Inc. ... American International Group, Inc. ... Fidelity Investments is a group of privately held companies in the financial services industry. ... The Hartford Financial Services Group, Inc. ... Prudential plc is a United Kingdom based financial services company. ... KB Banki, formerly Kaupþing Búnaðarbanki (Kaupthing Agricultural Bank), is one of three major commercial banks in Iceland and the largest bank overall in the country. ... Linsco/Private Ledger (LPL Financial Services) has become one of the largest organizations of independent, commission-earning financial advisors. ... Merrill Lynch & Co. ... MetLife, Inc. ... World Financial Group logo World Financial Group (WFG), is a financial services distribution and marketing organization in North America. ...

See also

Accounting scandals, or corporate accounting scandals are political and business scandals which arise with the disclosure of misdeeds by trusted executives of large public corporations. ... BFSI BFSI is a recently evolved acronym for representing the BANKING, FINANCIAL SERVICES & INSURANCE. This term is used by Indian IT services and ITES/BPO companies more regularly to refer to the outsourced services that they do for companies in these domains. ... The European Financial Services Roundtable (EFSR) is a European organization, located in Brussels, Belgium, of financial service companies to provide a voice on policies of the European Union related to financial matters. ... A financial analyst (or securities analyst, research analyst, equity analyst, investment analyst) works with financial analysis. ... In finance, financial markets facilitate: The raising of capital (in the capital markets); The transfer of risk (in the derivatives markets); and International trade (in the currency markets). ... The government sponsored enterprises (GSEs) are a group of financial services corporations created by the United States Congress. ... IMF redirects here. ... Investment management is the professional management of various securities (shares, bonds etc) assets (e. ... Financial analysis of an organisation is misleading when it is used to misrepresent the organisation, its situation or its prospects. ... Thomson Financials standard league tables are rankings of Investment Banks in terms of the dollar volume of deals they work on. ...

Notes

  1. ^ Contrary Investor
  2. ^ The Economist: The world's biggest banks, List of the world's ten largest banks by tier 1 capital at the end of 2006
  3. ^ Euromoney
  4. ^ Barclays Global Investors
  5. ^ Prudential: Securities Processing Primer
  6. ^ "Watchdog warns of criminal gangs inside banks", Guardian. Retrieved on 2007-11-30. 
  7. ^ The Opportunity: Small Global Market Share, Page 11, from the Sanford C. Bernstein & Co. Strategic Decisions Conference - 6/02/04
  8. ^ Street Authority
  9. ^ Contrary Investor
  10. ^ BusinessWeek/Interbrand 2006 Global Brand Survey
  11. ^ CardReport: Charge-off
  12. ^ The Street

Several newspapers go by the name of Guardian: The Guardian, a British newspaper founded in 1821 as the Manchester Guardian, which took its current title in 1959. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 334th day of the year (335th in leap years) in the Gregorian calendar. ...

References

  • Porteous, Bruce T.; Pradip Tapadar (2005). Economic Capital and Financial Risk Management for Financial Services Firms and Conglomerates. Palgrave Macmillan. ISBN 1-4039-3608-0. 
  • Wengler, C.; Cornelia Gerster (2004). European Banking and Financial Services Law. Kluwer Law International. ISBN-10: 9041122990. 

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When you volunteer with a chapter of Thrivent Financial for Lutherans, you’re not only helping others—you’re working side-by-side with future friends.
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