Financial Powerhouse Attracts Global Leaders By Susan Burnell
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Florida Excels in Finance 3rd largest insurance industry in the U.S.
Florida is an economic super-state. Its economyâ€”the nationâ€™s fourth-largestâ€”is bigger than the economies of Switzerland, Saudi Arabia and Argentina. The stateâ€™s global connectivity, experienced workforce and attractive tax structure help it attract and retain financial and professional services companies. At last count, Florida had 141 commercial banks with $140 billion in assets under management, according to the FDIC. The state also has a growing private equity cluster and OQTGVJCPKPUWTCPEGTGNCVGFĆ‚TOU including 2,104 foreign and 445 domestic KPUWTGTUCEEQTFKPIVQVJG(NQTKFC1HĆ‚EGQH Insurance Regulation.
Access to Growing World Markets Florida is a hub for Latin American headquarters. Organizations doing business internationally benefit from the stateâ€™s vibrant international banking center, a highly educated and ethnically diverse talent pool, and a consular corps representing UQOGPCVKQPU/CP[KPVGTPCVKQPCNĆ‚TOU base other facilities, such as warehousing, distribution and manufacturing, in Florida to take advantage of its easy access to global markets. Eighteen of the largest (by assets) global banks have headquarters in Miami. American Express, Citibank, MasterCard Worldwide, Paris RE Latin American and Intermex Wire Transfer, LLC are among the growing list of companies with a strong presence in South Florida. The Orlando, Tampa Bay and Jacksonville metros have grown their Ć‚PCPEKCNUGTXKEGUKPFWUVTKGUCUYGNN
Statewide, Deutsche Bank employs more than 1,800 people. It is expanding its Jacksonville presence, which is now the bankâ€™s second-largest office in the U.S. Over the last two years, Deutsche Bank has invested $23 million in the Northeast Florida community. The bankâ€™s growth has helped position Jacksonville as an emergKPIINQDCNĆ‚PCPEKCNEGPVGT â€œDeutsche Bank could have chosen to invest in any of its other locations across the world, but recognized that our commitment to cutting taxes and creating a business-friendly environment makes Florida the best place to succeed,â€? says Governor Rick Scott. â€œWe started in Jacksonville with 100 people as an operations center. Today, Deutsche Bankâ€™s key infrastructure functions and most of our major businesses are represented there, and Jacksonville is our largest American presence outside New York,â€? says Leslie Slover, regional head of Jacksonville, FL, and Cary, NC, Deutsche Bank. â€œJacksonville offers a high quality of life for our employees and a cost-effective environment for our operations.â€? In 2015, Macquarie Group joined 19 other banks, insurance and investment serXKEGUĆ‚TOUHTQO(QTDGUo)NQDCNNKUVVQ set up operations in Jacksonville. Macquarie has invested more than $3 million into its downtown Jacksonville location. â€œMacquarie conducted a global search for a new home for our Global Finance Services site,â€? says Anthony Glenn, head of its ,CEMUQPXKNNGQHĆ‚EGp9GWNVKOCVGN[EJQUG Jacksonville for its welcoming business environment, its talent pool, the working
4th NCTIGUVĆ‚PCPEKCNUGTXKEGU industry in the U.S.
160 RTKXCVGGSWKV[Ć‚TOUYKVJOQTGVJCP $33.9B in assets under management
141 commercial banks with $140B+ in assets
12 international banks have Florida headquarters Source: Enterprise Florida
environment and the quality of life for our staff. Since making the decision and setting up our operations, we could not be happier with our choice of Jacksonville.â€?
A Support Network for International Business 9KVJCXCUVPGVYQTMQHQHĆ‚EGUKPEQWP VTKGUCPFUKZVTCFGQHĆ‚EGUNQECVGFCTQWPF the state, EFI offers many vital services for overseas businesses looking to locate in Florida and for Florida-based businesses looking to expand internationally.
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