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Brief Excerpt from Industry Overview Chapter:
Companies in this industry engage in financial transactions and create, liquidate, purchase, and sell financial assets such as securities, bonds, and insurance. Major finance and insurance companies include AIG, Bank of America, Citigroup, Fidelity, Goldman Sachs, JPMorgan Chase, MetLife, and Wells Fargo (all based in the US), as well as Allianz (Germany) AXA and BNP Paribas (both based in France), and Industrial and Commercial Bank of China (China).
Major global financial hubs include New York, London, Hong Kong, Shanghai, Los Angeles, and Singapore, according to the 2022 Global Financial Centres Index by Z/Yen. Top financial centers in Asia Pacific include Hong Kong, Shanghai, Singapore, Beijing, and Tokyo.
The US finance and insurance sector consists of about 475,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $4.5 trillion.