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Listings in Financial Services
Charles Schwab Corporation
The Charles Schwab Corporation is a bank and stock brokerage firm based in San Francisco, California. It was founded in 1971 by Charles R. Schwab. It is ranked 13th on the list of largest banks in the United States and it is also one of the largest brokerage firms in the United States. The company offers an electronic trading platform to trade financial assets including common stocks, preferred stocks, futures contracts, exchange-traded funds, options, mutual funds, and fixed income investments. It also provides margin lending, and cash management services, as well as services through registered investment advisers. Schwab operates in four main divisions: investing, wealth management, banking, and trading. As of December 31, 2017, the company had 10.755 million active client brokerage accounts, with $3.362 trillion in assets.[2] The company operates 345 branches in 46 states, as well as branches in both Puerto Rico and London.
Cigna
Cigna is an American worldwide health services organization based in suburban Bloomfield, Connecticut and Philadelphia, Pennsylvania.[2] Its insurance subsidiaries are major providers of medical, dental, disability, life and accident insurance and related products and services, the majority of which are offered through employers and other groups (e.g. governmental and non-governmental organizations, unions and associations). Cigna is incorporated in Connecticut. [3] Cigna offers Medicare and Medicaid products and health, life and accident insurance coverages primarily to individuals in the U.S. and selected international markets. In addition to its ongoing operations described above, Cigna also has certain run-off operations, including a Run-off Reinsurance segment.[4] In the Phoenix metropolitan area, Cigna runs a full-service staff-model HMO (health maintenance organization) with satellite clinics throughout the region, known as the Cigna Medical Group.[5] Cigna Global Health Benefits also operates under the Cigna corporation. Cignas motto is ‘Together, all the way.'[6] The company ranked No. 73 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.[7] On March 7, 2018, it was announced that Cigna would buy Express Scripts in a $67 billion deal[8][9] and on August 24, 2018, the shareholders of Cigna and Express Scripts approved the deal.
Cincinnati Financial
Cincinnati Financial Corporation offers property and casualty insurance, its main business, through The Cincinnati Insurance Company, The Cincinnati Indemnity Company and The Cincinnati Casualty Company. The company has 1.01% of the domestic property and casualty insurance premiums, which ranks it as the 20th largest insurance company by market share in the U.S.[3] The Cincinnati Insurance Company was founded in 1950 by four agents, including brothers John Jack Schiff and Robert Cleveland Schiff.[4] The Cincinnati Life Insurance Company markets life and disability income insurance and annuities. CFC Investment Company supports the insurance subsidiaries and their independent agent representatives through commercial leasing and financing activities. CinFin Capital Management Company provides asset management services to institutions, corporations and individuals. In 2001, SFAS 133 adjustments were included with realized capital gains or losses rather than investment income. The impact on nine-month 2001 earnings was an after-tax gain of $1.3 million. Prior period 2001 results were restated on this basis. In 2008, Cincinnati began writing excess and surplus lines insurance under a new subsidiary called the Cincinnati Specialty Underwriters Insurance Company. MSP Underwriting, a global specialty underwriter, was acquired in February 2019, and was rebranded Cincinnati Global Underwriting Ltd. on May 1, 2019. Based in London, Cincinnati Global Underwriting Ltd. operates through Cincinnati Global Underwriting Agency Ltd., which is the Lloyd’s managing agent for Cincinnati Global Syndicate 318. Collectively, the group is known as Cincinnati Global.
Citigroup
Citigroup Inc. or Citi (stylized as citi) is an American multinational investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998; Travelers was subsequently spun off from the company in 2002.[21][22] Citigroup owns Citicorp, the holding company for Citibank, as well as several international subsidiaries. Citi is incorporated in NY.[23] Citigroup is ranked 3rd on the list of largest banks in the United States and, alongside JPMorgan Chase, Bank of America, and Wells Fargo, it is one of the Big Four banks of the United States.[24] It is a systemically important financial institution and is on the list of systemically important banks that are too big to fail. It is one of the nine global investment banks in the Bulge Bracket. Citigroup is ranked 30th on the Fortune 500 as of 2019.[25] Citigroup has over 200 million customer accounts and does business in more than 160 countries.[20] It has 214,000 employees,[20] although it had 357,000 employees before the financial crisis of 2007-2008,[26] when it was rescued via a massive stimulus package by the U.S. government.
Citizens Financial Group
Citizens Financial Group, Inc. is an American bank headquartered in Providence, Rhode Island, which operates in the states of Connecticut, Delaware, Maine, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, South Carolina, Pennsylvania, Rhode Island and Vermont. Between 1988 and its 2014 initial public offering, Citizens was a wholly owned subsidiary of The Royal Bank of Scotland Group.[2] RBS sold its last 20.9% stake in the company in October 2015. Citizens operates more than 1,200 branches and approximately 3,200 ATMs across 11 states under the Citizens Bank brand.[3] Citizens ranks 24th on the List of largest banks in the United States.
CoinDesk
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Articles and support services for Bitcoin, Ethereum, Crypto News and Price Data.
Discover Financial Services
Discover Financial Services, Inc. is an American financial services company that owns and operates Discover Bank, which offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards. It also owns and operates the Discover and Pulse networks, and owns Diners Club International.
Erie Insurance Group
Erie Insurance is a publicly held insurance company, offering auto, home, commercial and life insurance through a network of independent insurance agents. As of 2019, Erie Insurance Group is ranked 381st among the largest public U.S. companies, in terms of revenue, by Fortune magazine. Its geographic footprint extends to 12 U.S. states and the District of Columbia, including Illinois, Indiana, Kentucky, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and Wisconsin. It also owns the naming rights to the Erie Insurance Arena in downtown Erie, Pennsylvania. Erie Insurance Exchange began in 1925 when two salesman for the Pennsylvania Indemnity Exchange, H.O. Hirt and O.G. Crawford, left to create their own insurance company. In three months and 20 days, the two convinced 90 stockholders to invest using a hand-written business plan, raising $31,000 to begin their own auto insurance company. Erie Insurance Home Office The Pennsylvania Insurance Department issued a license to the Erie Insurance Exchange as an automobile insurer, beginning operations on April 20, 1925. Erie Insurance Exchange was formed as a reciprocal and Erie Indemnity Company was formed as its managing company. The annual premium charge per auto was $34. Co-founder H.O. Hirt hoped to create a company built on service, developing the mantra, The ERIE is Above all in SERvIcE, with the letters E-R-I-E raised out of the word service. Customers, who were encouraged to call the company collect, could even expect the cofounders to answer the phone themselves. The company’s first adjuster and full-time claims manager, Sam P. Black, Jr., had a phone extension installed in his room at the local YMCA, offering 24-hour service to policyholders.
Fannie Mae
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal,[2] the corporation’s purpose is to expand the secondary mortgage market by securitizing mortgage loans in the form of mortgage-backed securities (MBS),[3] allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (or “thrifts”).[4] Its brother organization is the Federal Home Loan Mortgage Corporation (FHLMC), better known as Freddie Mac. As of 2018, Fannie Mae is ranked #21 on the Fortune 500 rankings of the largest United States corporations by total revenue.
Farmers Insurance Exchange
Farmers Insurance Group (informally Farmers) is an American insurer group of automobiles, homes and small businesses and also provides other insurance and financial services products. Farmers Insurance has more than 48,000 exclusive and independent agents and approximately 21,000 employees. It is a subsidiary of the Swiss company Zurich Insurance Group.
Fidelity National Financial
Fidelity National Financial, Inc., is a Fortune 500 company and is the largest provider of commercial and residential mortgage and diversified services in the United States. FNF generates about $7 billion in annual revenues from real estate title and other real estate related operations. Fidelity National Financial, Inc. is currently ranked number 274 on Fortune’s list of America’s Largest Companies. The title insurance underwriters that comprise Fidelity National Title Group (FNTG) Fidelity National Title, Chicago Title, Commonwealth Land Title, Security Title Agency, Ticor Title, and Alamo Title currently issue residential and commercial title insurance policies for multimillion-dollar properties throughout the U.S.
Fidelity National Information Services
Fidelity National Information Services, Inc. (or FIS) is an international provider of financial services technology and outsourcing services. FIS employs 52,000 people worldwide. FIS provides payment processing and banking software, services and outsourcing of the associated technology. FIS has over 20,000 clients in more than 130 countries. FIS was ranked second in the FinTech Forward 2016 rankings.
Fifth Third Bancorp
Fifth Third Bank (5/3 Bank) is a bank headquartered in Cincinnati, Ohio, at Fifth Third Center. It is the principal subsidiary of Fifth Third Bancorp, a bank holding company. The bank operates 1,154 branches and 2,469 automated teller machines in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina. Fifth Third Bank is incorporated in Ohio. One of the largest banks in the United States, the company was ranked 366th on the Fortune 500 in 2018. The name “Fifth Third” is derived from the names of the bank’s two predecessor companies, Third National Bank and Fifth National Bank, which merged in 1908.
First American Financial
First American Financial Corporation is a United States financial services company and is a leading provider of title insurance and settlement services to the real estate and mortgage industries. The First American Family of Companies core business lines include title insurance and closing/settlement services; title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; and banking, trust and investment advisory services. With total revenue of $5.8 billion in 2017, the company offers its products and services directly and through its agents throughout the United States and abroad. First American offers its products and services directly and through its agents and partners throughout the United States and in more than 40 countries. In June 2010, First American Financial Corporation was established when The First American Corporation split its businesses to create two separate legal entities, First American Financial Corporation (NYSE: FAF) which provides title and financial services and CoreLogic Inc. which provides information solutions and analytics services to the real estate and mortgage industry.
First Data
First Data Corporation (NYSE: FDC) was a financial services company headquartered in Atlanta, Georgia, United States. The company’s STAR Network provides nationwide domestic debit acceptance at more than 2 million retail POS, ATM, and Online outlets for nearly a third of all U.S. debit cards. First Data has six million merchants, the largest in the payments industry.[3] The company handles 45% of all US credit and debit transactions, including handling prepaid gift card processing for many US brands such as Starbucks.[3][4] It processes around 2,800 transactions per second and $2.2 trillion in card transactions annually,[5] with an 80% market share in gas and groceries in 2014.[6] First Data’s SpendTrend Report is a key shopping metric for national news networks such as WSJ, USA Today, ESPN, The New York Times, Vox Media,[7][8][9][10] and Bloomberg.[11] In October 2015, First Data returned to public markets, selling 160 million shares in the New York Stock Exchanges biggest IPO of that year.
Fiserv
Fiserv, Inc. is a worldwide provider of financial services technology. The company’s clients include banks, thrifts, credit unions, securities broker dealers, leasing and finance companies, and retailers. In October 2015, American Banker and BAI ranked the company third by revenue among technology providers to U.S. banks. Fiserv reported total revenue of $5.51 billion in 2016. In summer of 2018, Fiserv obtained the naming rights to the Fiserv Forum, home to the Milwaukee Bucks, for 25 years. Fiserv has been named as 2019 Fortune World’s Most Admired Companies, sixth consecutive year it has earned this recognition and 9 times in the last 11 years.
Franklin Resources
Franklin Resources Inc. is an American holding company that, together with its subsidiaries, is referred to as Franklin Templeton Investments; it is a global investment firm founded in New York City in 1947 as Franklin Distributors, Inc. It is listed on the New York Stock Exchange under the ticker symbol BEN, in honor of Benjamin Franklin, for whom the company is named, and who was admired by founder Rupert Johnson, Sr. In 1973 the company’s headquarters moved from New York to San Mateo, California. As of March 2017, Franklin Templeton Investments had US$740 billion in assets under management (AUM) on behalf of private, professional and institutional investors.
Freddie Mac
The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac, is a public government-sponsored enterprise (GSE), headquartered in Tysons Corner, Virginia.[3][4] Freddie Mac is ranked No. 38 on the 2018 Fortune 500 list of the largest United States corporations by total revenue.[5] The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with the Federal National Mortgage Association (Fannie Mae), Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name, “Freddie Mac”, is a variant of the initialism of the company’s full name that had been adopted officially for ease of identification. On September 7, 2008, Federal Housing Finance Agency (FHFA) director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA (see Federal takeover of Fannie Mae and Freddie Mac). The action has been described as “one of the most sweeping government interventions in private financial markets in decades”.[6][7][8] Moody’s gave Freddie Mac’s preferred stock an investment grade rating of A1 until August 22, 2008, when Warren Buffett said publicly that both Freddie Mac and Fannie Mae had tried to attract him and others. Moody’s changed the credit rating on that day to Baa3, the lowest investment-grade credit rating. Freddie’s senior debt credit rating remains Aaa/AAA from each of the major rating agencies: Moody’s, S&P, and Fitch.[9] As of the start of the conservatorship, the United States Department of the Treasury had contracted to acquire US$1 billion in Freddie Mac senior preferred stock, paying at a rate of 10% per year, and the total investment may subsequently rise to as much as US$100 billion.[10] Shares of Freddie Mac stock, however, plummeted to about one U.S. dollar on September 8, 2008, and dropped a further 50% on June 16, 2010, when the Federal Housing Finance Agency ordered the stocks delisted.[11] In 2008, the yield on U.S Treasury securities rose in anticipation of increased U.S. federal debt.[12] The housing market and economy eventually recovered making Freddie Mac profitable once again. For a comprehensive list of articles discussing Freddie Mac, see Bibliography of Fannie Mae and Freddie Mac.
Genworth Financial
Genworth Financial is an S&P 400 insurance company. The firm was founded as The Life Insurance Company of Virginia in 1871. In 1986, Life of Virginia was acquired by Combined Insurance, which became Aon plc in 1987. In 1996, Life of Virginia was sold to GE Capital. In May 2004, Genworth Financial was formed out of various insurance businesses of General Electric in the largest IPO of that year. Genworth Financial is incorporated in Virginia. Genworth Financial has three segments: Retirement & Protection, US Mortgage Insurance, and International. Products and services include life and long-term care insurance, mortgage insurance, and annuities.
Goldman Sachs Group
The Goldman Sachs Group, Inc., is an American multinational investment bank and financial services company headquartered in New York City. It offers services in investment management, securities, asset management, prime brokerage, and securities underwriting. The bank is one of the largest investment banking enterprises in the world,[3] and is a primary dealer in the United States Treasury security market and more generally, a prominent market maker. The group also owns Goldman Sachs Bank USA, a direct bank. Goldman Sachs was founded in 1869 and is headquartered at 200 West Street in Lower Manhattan with additional offices in other international financial centers.[4] As a result of its involvement in securitization during the subprime mortgage crisis, Goldman Sachs suffered during the financial crisis of 20072008,[5][6] and received a $10 billion investment from the United States Department of the Treasury as part of the Troubled Asset Relief Program, a financial bailout created by the Emergency Economic Stabilization Act of 2008. The investment was made in November 2008 and was repaid in June 2009.[7][8] Former employees of Goldman Sachs have moved on to government positions. Notable examples includes former U.S. Secretaries of the Treasury Robert Rubin and Henry Paulson; current United States Secretary of the Treasury Steven Mnuchin; former Under Secretary of State John C. Whitehead; former chief economic advisor Gary Cohn; United States Senator and former Governor of New Jersey Jon Corzine; former Prime Minister of Italy Mario Monti; European Central Bank President Mario Draghi; former Bank of Canada Governor and current Governor of the Bank of England Mark Carney; and the former Prime Minister of Australia Malcolm Turnbull. In addition, former Goldman employees have headed the New York Stock Exchange, the World Bank, and competing banks such as Citigroup and Merrill Lynch. The company is ranked 62nd on the Fortune 500 list of the largest United States corporations by total revenue.