These Are The Top Ten US Banks By Employee Count
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The U.S. is home to some of the biggest banks in the world. As of Dec. 31, 2020, the top 15 biggest banks in the country held $12.54 trillion in assets. These top banks are big employers as well. They are a source of income for millions of people, and help to keep a check on the unemployment level as well. Detailed below are the top ten U.S. banks by employee count.
Top ten U.S. banks by employee count
We have used the employee count data reported on Dec. 31, 2020, to come up with the list of top U.S. banks by employee count. Following are the top ten U.S. banks by employee count:
State Street Bank and Trust Company (30,150)
Founded in 1792, it is a financial services and asset management company. This bank has a global presence in more than 100 markets. State Street Bank offers investment research, as well as trading and investment management services. It primarily serves asset holders, insurance companies, and pension funds. State Street Bank is headquartered in Boston and is the eleventh-biggest bank in terms of assets.
Capital One (30,757)
Capital One is a bank holding company that specializes in auto loans, credit cards and savings accounts. They have more than 60 million active cardholder accounts, representing about 11% of the market share. Capital One Bank is one of its subsidiaries. Capital One is headquartered in McLean, Virginia and is the tenth-biggest bank in terms of assets.
The Bank of New York Mellon (39,017)
Founded in 1784, it was the first company to trade on the New York Stock Exchange (NYSE). It operates across 35 countries, offering investment services and investment management to clients. BNY Mellon works as an investment company that serves corporations, institutions and individual investors.
Truist Bank (50,236)
Truist Bank came into existence with the merger of BB&T and SunTrust. As of 2019, the two banks were the 11th and 12th biggest banks in asset size. Now, Truist Bank is the sixth-largest bank in the country in terms of assets. The bank serves around 10 million households, and has 2,049 branches, largely in the South and around the East Coast. Truist Bank is headquartered in Charlotte.
PNC Bank (50,688)
PNC Bank was founded as Pittsburgh Trust and Savings Co. The bank’s size roughly doubled after its acquisition of Cleveland-based National City Corp. in 2008. Currently, the bank has about 2,300 branches. It is a regional bank that operates in the Northeast, South and Midwest. However, the bank has started to expand beyond its traditional market in the last couple of years. It is headquartered in Pittsburgh, and is the seventh-biggest bank in terms of assets.
U.S. Bank (66,930)
U.S. Bank operates as the retail banking division of U.S. Bancorp, which started in 1863 as the First National Bank of Cincinnati. Over the years, the banking organization has grown in size due to multiple mergers. This bank serves about 18.7 million customers and has a network of more than 3,000 branches and 4,842 automated teller machines. U.S. Bank is headquartered in Minneapolis and is the fifth-biggest bank in terms of asset size.
Bank of America (140,198)
Bank of America serves about 66 million customers worldwide. Like many other banks, this bank is also expanding its digital footprint, and has over 37 million digital clients. It even has a virtual assistant, called Erica. Moreover, it has around 4,300 financial centers across the country, including 2,700 lending centers. Bank of America is headquartered in North Carolina, and is the second-biggest bank in terms of asset size.
Citigroup emerged as a major financial player after the merger of Citicorp and Travelers Group in 1998. Citi’s retail banking division, called Citibank, has around 3,400 financial centers worldwide and about 700 branches in the U.S. Further, the bank has 65,000 fee-free ATMs. It is headquartered in New York City, and is the fourth-biggest U.S. bank in terms of asset size.
JPMorgan Chase Bank (197,936)
JPMorgan and Chase merged about 20 years ago, with Chase serving as the consumer banking division. Unlike many other banks, Chase is working on expanding its number of branches in key markets. Currently, the bank has about 5,000 branches and 16,000 ATMs. The bank claims that almost half of the country’s households are its customers. It is the biggest U.S. bank by asset size. JPMorgan has its headquarters in New York City.
Wells Fargo Bank (233,403)
Founded in 1852, it is the oldest bank in America. Over the past few years, the bank has focused on consolidating and eliminating branches, yet it has the most number of branches. The bank has come up with new savings and mobile banking apps to attract young clients. It operates through the following segments: Wealth & Investment Management, Wholesale Banking, Community Banking, and Other. The bank is headquartered in San Francisco, California.