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Top Financial Services Companies in the World

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Financial services constitute one of the economy’s most vital and influential sectors. As the name suggests, the financial services sector renders financial services to people and corporations.

The financial sector is the mainstay of economies all across the globe. A degree in financial services can land you a job at these top firms.

The sector encompasses commercial banks, insurance companies, non-banking financial companies (NBFC), co-operatives, pension funds, mutual funds, and other small finance entities. Thus, the financial services sector is the fundamental driver of a nation’s economy.

Hence a robust financial services sector leads to a nation’s economic growth, and this further implies that through this sector’s strength, companies and entities in this industry are better able to manage risk. 

top financial services companies

Financial stability creates jobs and enhances productivity both internationally and within countries. It encourages investors to spend and save money. Robust banking institutions and capital markets effectively channel funds to the most productive purposes, assisting governments in raising investment capital, maintaining financial safety nets, and facilitating cross-border payments in a secure manner.

Businesses all across the globe need systems that can evaluate client data and make decisions based on usage patterns, demand peaks, and consumption changes. All of this raises the demand for a system that can successfully manage big data, and this type of demand is propelling the industry ahead.

Following are the top financial services companies:

List of Top 25 Companies

Warren Buffett is a well-known investor and business magnate who runs Berkshire Hathaway, a global company established in the United States. Its headquarters are in Omaha, Nebraska, and it will be the world’s largest financial services corporation by revenue by 2020.

The company primarily makes money through purchasing and operating smaller businesses, like airlines, as well as holding major minority stakes in big organisations like Bank of America and Coca-Cola. These are the major reasons for Berkshire to be known in the top financial services companies

1. Berkshire Hathway

top financial services companies visa inc

2. J.P. Morgan Chase

J.P. Morgan, a global leader in financial services, offers solutions to the world’s most prominent corporations, governments, and institutions in over 100 nations. Most employees are found to be a Master’s in Finance graduates.

JPMorgan Chase & Co. is an American multinational investment bank and financial services company headquartered in New York City with its operations carried on worldwide. Ranked by S&P Global, JPMorgan is the largest bank in the United States with total assets of US$3.831 trillion. 

Visa Inc. is an American multinational financial services corporation. Its headquarters are in Foster City, California, United States. Whenever reading about top financial services companies, you’ll surely find Visa as one amongst them. Visa Inc. facilitates and assists electronic funds transfer everywhere around the world.

Usually, through Visa-branded credit cards, debit cards, and prepaid cards. Financial institutions can use Visa-branded payment products to offer credit, debit, prepaid, and cash access programs to their customers. 

3. VISA Inc.

top financial services companies visa inc

4. Bank of America Corporation

top financial services companies bank of america

The Bank of America Corporation, also called Bank of America (BofA), is an American multinational investment bank and financial services company with headquarters in Charlotte and central hubs in New York City, London, Hong Kong, Dallas, and Toronto.

Bank of America was founded in San Francisco. NationsBank’s acquisition of BankAmerica formed Bank of America in 1998. It is the second-largest banking institution in the United States, following JPMorgan Chase, and the ninth-largest financial services company in the world (in terms of revenue). 

Its financial services include commercial, investment banking, and wealth management that makes it one of the top financial services companies.

ICBC is a state-owned commercial bank and was founded as a limited company on January 1, 1984.

 Through its perpetual effort and enduring development, the Bank has evolved into a leading bank in the world. It holds an exceptional customer base, powerful innovation capacities, and market competitiveness. The ‘Big Four’ state-owned commercial banks in China include ICBC. 

5. ICBC- Industrial & Commercial Bank of China

top financial services companies icbc

6. Mastercard Incorporated

The American multinational, Mastercard Incorporated is a financial services corporation. Mastercard International Global Headquarters are the headquarters of Mastercard Incorporated in Purchase, New York, United States. Mastercard is regarded as top financial services companies since a long time.

Across the globe, MasterCard’s business is to process payments amid the merchant banks and the card-issuing banks or credit unions. During the period 1966-1969, Mastercard was called Interbank. In response to the BankAmericard, many regional bank card associations formed an alliance. This led to the formation of Mastercard. Bank of America issued Mastercard. Visa Inc. issued the Visa credit card which later became MasterCard.

Established in 1988, PayPal Holdings Inc is an American company. Its headquarters are located in San Jose, CA. PayPal is engaged in the development of a technology platform for digital payments.

The main aim of the Company is to be a viable electronic alternative to traditional paper methods like checks and money orders. Both payment of goods, as well as transfer and refund of funds, can be done from this platform.

The solutions include PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. Available in more than 200 markets around the world, PayPal enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies.

The Company has also received various awards and recognition for its business model and for being the best employer. PayPal has a ranking in the Forbes Top 100 Digital Companies and Forbes World’s most valuable brands.

7. PayPal Holdings Inc.

top financial services companies paypal

8. Wells Fargo & Co.

top financial services companies wells fargo

The American multinational financial services company, Wells Fargo & Company is a diversified financial services company catering for banking, insurance, investments, mortgage, leasing, credit cards, and consumer finance. Its headquarters are located in San Francisco, California. Across the United States, it has many of its central offices.

Wells Fargo, in July 2015, emerged as the world’s largest bank by market capitalization, edging past ICBC. The Company works through physical stores, online mode, and other distribution channels globally.

9. Bank of China

top financial services companies bank of china

 One of the four biggest state-owned commercial banks in China is the Bank of China (BOC). Founded in 1912- the year China became a republic; it is one of the oldest banks in China. Initially, the Bank served as the country’s central bank, international exchange bank, and international trade bank but later it expanded.

Today, the bank offers a full range of traditional banking services. These services include commercial, private, and investment banking, foreign currency deposit and exchange services as well as assets management, and insurance services. BOC also holds note-issuing privileges in Hong Kong and Macau.

As China’s most globalized bank, the Bank of China has a well-established network in over 57 countries. It is also one of the top largest banks in the world in terms of assets.

The largest independent publicly listed pan-Asian life, insurance group established in 1919 is the AIA Group. Headquartered in Hong Kong, the company has a presence in 18 markets in Asia-Pacific. It has subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, and several others.

Also, it has a 49% joint venture in India. The company offers insurance and financial services, writing life insurance for individuals and businesses. The vital services provided are accident and health insurance, retirement planning, and wealth management.

Having received much recognition, AIA became the only multinational company in the world to rank number one in terms of the largest number of Million Dollar Round Table members for five consecutive years.

10. AIA- Insurance and Financial Company

top financial services companies aia

11. Royal Bank of Canada

top financial services companies rbc

Founded in 1864, the Royal Bank of Canada (RBC) is one of the leading diversified financial services companies. It provides services such as wealth management, insurance, investor services, and capital markets products and services on a global basis. The Company serves 16 million clients in Canada, the U.S., and 34 other countries.

RBC is the 9th largest bank worldwide and the 5th in North America, as measured by market capitalization. Financial strength, market leadership, and philanthropic work are the basis on which it is recognized every time. Retail Banker International (RBI) awarded RBC with ‘North American Retail Bank of the Year’ for the second year in a row. In the Megabanks category of the World’s most admired companies, RBC holds a rank in the Fortune Top 5.

Citi was formed through the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998; Travelers was later spun off from the company in 2002. Citicorp is owned by Citigroup.

Citigroup ranks 3rd amongst the list of largest banks in the United States, besides JPMorgan Chase, Bank of America, and Wells Fargo. Interestingly, it is one of the Big-Four banks of the United States.

It is listed amongst the nine global investment banks in the Bulge Bracket and is ranked 30th on the Fortune 500 as of 2019. Citigroup owns over 200 million customer accounts and conducts business in more than 160 countries.

12. CITI Group Inc.

top financial services companies citi group

13. Allianz

top financial services companies allianz

Headquartered in Munich, Allianz Group is a German financial services company operating in the insurance and asset management sectors globally. Founded in 1890, the then director of the Munich Reinsurance Company Carl von Thieme, established the company initially as a transport and accident insurer.

However, today Allianz offers a variety of services such as property and casualty insurance, and life and health insurance. Among the services provided are Credit insurance, travel insurance, and asset management services via a number of brands and subsidiaries.

Allianz boasts of serving over 100 million customers in more than 70 countries. For its commitment to work-life balance, professional development, and diversity and inclusion, the company is a recognized leader. Also, for the eighth year in a row, Allianz holds a ranking in the FORTUNE 100 Best Companies to Work for List.

One of the oldest financial firms in America is the American Express or Amex. Founded in 1850 by John Butterfield, Henry Wells and William G. Fargo and headquartered in the city of New York. Henceforth, the company today stands tall as one of the largest financial service companies in the world. 

However, this may come as a surprise that Amex was not started as a financial service company. Amex was an express delivery business. After its success, it started to venture out into the business of money orders. Later, it expanded overseas to become an international company. It is also one of the first companies in the world to offer charge cards.

Today, American Express is a leading issuer of personal, small business, and corporate credit cards. Its offerings also include insurance, traveller’s checks, agencies for hotel and car-rental reservations, and more. 

14. American Express Company

top financial services companies amex

15. HDFC Bank Ltd

top financial services companies hdfc

Incorporated in 1994, HDFC Bank Ltd., is an Indian banking and financial services company. Its headquarters are in Mumbai, Maharashtra. In fact, it is the first company to receive approval from RBI to set up a private sector bank. 

The Company provides a number of products and services including wholesale banking, retail banking, and treasury. Loans on autos, two-wheelers, against property, consumer durable loans, lifestyle loans, and credit cards are. Along with this, various digital products are Payzapp and SmartBUY.

Today, HDFC has a network of 5,345 branches and 14,533 ATMs spread across 2,787 cities and towns. Moreover, It has also received various awards and recognitions. Professional Wealth Management(PWM) ranked HDFC Bank Ltd. as the Best Bank in India 2021.

The Commonwealth Bank or CommBank is an Australian multinational bank. Founded in 1911, and headquartered in Sydney under the Commonwealth Bank Act, it started its operations in the year 1912.

The aim of the company is to conduct both savings and general banking business. Today, it provides a variety of financial services including retail, business and institutional banking. Among the other services provided are funds management, superannuation, insurance, investment and broking services.

The Australian Securities Exchange lists Commonwealth Bank as one of the largest companies. The Company has been growing its business ever since. However, today it has more than 800,000 shareholders and 52,000 people working in the Group. This sums up the reason for Commonwealth Bank to be in the top financial services companies.

16. Commonwealth Bank

17. US Bancorp

top financial services companies bank of china

Established in 1863, US Bancorp is an American Bank holding Company headquartered in Minnesota. The company provides banking, investment, mortgage, trust, and payment services. Today, it is the fifth-largest bank in the country, with more than 70,000 employees and $573 billion in assets.

US Bancorp holds a ranking in the Fortune 500 list and Forbes America’s Best Banks. Also, If you plan to work in one of the top financial services companies, US Bancorp can be the perfect fit.

The American company – Fidelity National Information Services Inc bags a place in the fortune 500 list. It offers an abundance of financial services and products such as software support and development, BPO services for contact centres and banking operations.

The firm provides services like B2B and B2C E-Commerce Solutions. Its headquarters are located in Florida and employ over 55,000 people worldwide.

Off lately, Fidelity National Information Services Inc (FIS) became the processing and payments company around the globe. Apart from this, FIS facilitates more than 75 billion transactions, servicing over 20,000 clients worldwide.

18. Fidelity National Information Services Inc

top financial services companies fis

19. Goldman Sachs Group Inc

top financial services companies goldman sachs

Headquartered in New York City, the American multinational investment bank, Goldman Sachs is one of the largest financial firms globally.  Established around 151 years ago in 1869, the company became exceptional in financial services. Since the beginning, it has earned the title of a ‘market maker’. Additionally, Goldman Sachs is the primary dealer in the US Treasury security market.

The company holds a ranking of #62 on the fortune 500 list of the largest corporations in the US, by total revenue. Most of the employees at the company have an M.Fin degree.

With more than 60,000 employees, Morgan Stanley has claimed offices in over 42 countries making it a multinational financial services company. The company caters to clients inclusive of not just institutions and individuals but the government as well. You might have heard about Morgan Stanley before while coming across top financial services companies. Here’s the reason why!

Founded in 1935, the company is split into 3 business units. Firstly, the Institutional Securities group provides services like capital raising and mergers & acquisitions. Secondly, Wealth Management provides wealth planning services to its clients. Lastly, Investment Management provides asset management products in private equity, fixed income and alternative investments.

20. Morgan Stanley

top financial services companies morgan stanley

21. BlackRock Inc

top financial services companies blackrock

BlackRock Inc, an American investment management corporation is known to be the world’s largest asset manager post its achievement of acquiring assets. The company holds an asset worth $10 trillion, as of January 2022. 

The company was founded in 1988 and within 34 years, it has expanded its operations globally to over 100 countries. Currently, headquartered in New York City, the company owns 70 offices spread across 30 countries worldwide. The ever-growing nature of this company will always rank it among the top financial services companies.

BNP was established in 1848 and Paribas in 1872. The existence of BNP Paribas came up only in 2000. It is a French multinational Banking Group. Additionally,  It is the 7th largest bank in the world in terms of total assets and operates in 72 countries.

BNP Paribas offers both retail banking and investment banking services. Being one of the top financial services companies, It has three domestic markets in France, Italy, and Belgium through other brands. The headquarters of BNP Paribas is located in Paris.

22. BNP Paribas

top financial services companies bnp paribas

23. Bank of Nova Scotia

top financial services companies bank of nova scotia

The Bank of Nova Scotia is a Canadian banking and financial services company. It officially operates as the Scotiabank and its headquarters are located in Toronto, Canada. Being a top financial services companies, it comes as one of Canada’s Big Five Banks. 

This bank is the third-largest bank in the country in terms of deposits and market capitalization. It was founded in 1832, about 190 years back in Halifax, Nova Scotia.  The Tangerine Bank is a subsidiary of the Bank of Nova Scotia. 

Founded 204 years ago in 1816, AXA operates all across the world but its headquarters are located in Paris, France. It is a top financial services companies that specializes in global insurance, investment management, and other financial services. It provides services in life, health, property and casualty insurance. 

Also, AXA is a component of the Euro Stoxx 50 stock market index. The idea behind the name was the fact that it is easy to pronounce for people belonging to any nationality, regardless of their mother tongue. 

24. AXA

top financial services companies axa

25. UBS Group

top financial services companies ubs

The  UBS group  or the Union Bank of Switzerland was founded 158 years ago in 1862. As of today, UBS is a Swiss multinational investment bank and financial management services company. One of the biggest investment banks in the world is UBS.

Its headquarters are located in Zurich and have assets of over $2.6 trillion. Apart from investment banking services for private, corporate, and institutionalized clients, UBS provides private banking, wealth, and asset management services.

It manages the largest amount of private wealth in the world as more than half the world’s billionaires are its clients.

Conclusion

These 25 firms are the top financial services companies in the world and are undoubtedly widely recognized with a proven record. They are the best in providing superior services to their clients in their fields. In addition, these companies nurture their employees to grow beyond their capabilities!

For further reading take a look at the top consulting firms in the world.

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