The 14 Largest Finance Companies In The United States

Financial companies play a crucial but often unnoticed role in the daily lives of most Americans, influencing everything from credit card approvals to mortgage applications and even healthcare financing.

So, who are the key players in this vital industry that helps facilitate your financial needs?

This article presents a detailed overview of the 14 largest finance companies in the U.S., ranked by their total revenue in 2022.

14 Largest Finance Companies in the United States

1. Berkshire Hathaway. Omaha, Nebraska

   2022 Revenue: $302.089 billion
   Market Cap: $683.10 billion

   Berkshire Hathaway is an American multinational conglomerate holding company. Its CEO is the renowned Warren Buffett, a prominent figure in the investment world.

   Founded in 1839 as a textile manufacturing company, Berkshire Hathaway has evolved into one of the largest publicly traded companies globally.

   Its diverse subsidiaries include well-known brands such as GEICO, Dairy Queen, Fruit of the Loom, and Duracell, with a significant focus on insurance and investment.

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2. JPMorgan Chase. New York, New York

   2022 Revenue: $154.792 billion
   Market Cap: $393.34 billion

   JPMorgan Chase is one of the oldest financial institutions in the U.S. and ranks among the largest globally.

   Its lineage dates back to 1799, with roots connected to founding figures like Alexander Hamilton and Aaron Burr.

   The company manages over $3 trillion in client assets, operates in more than 100 countries, and employs over 250,000 individuals across various financial services.

   Notable subsidiaries include Chase Bank, J.P. Morgan & Co., and WePay.

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3. Bank of America. Charlotte, North Carolina

   2022 Revenue: $115.053 billion
   Market Cap: $265.70 billion

   Bank of America, another venerable financial institution, has a history spanning 240 years. It was formed in 1998 through the merger of BankAmerica and NationsBank, creating the first coast-to-coast bank in the U.S.

   The institution pioneered the general-use credit card with revolving credit and limits, paving the way for Visa.

   Today, Bank of America serves about 66 million clients across 35 countries and boasts subsidiaries like Merrill, BofA Securities, and Balboa Insurance Company.

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4. Citigroup. New York, New York

   2022 Revenue: $75.34 billion
   Market Cap: $87.60 billion

   Citigroup emerged from the merger of Citicorp and Travelers Group in 1998, establishing itself as a global investment bank and financial services corporation.

   With over 100 million customers, Citigroup is recognized as the world’s largest credit card issuer, serving clients in 160 countries and jurisdictions, with a notable presence in Mexico and Asia.

   The company employs approximately 204,000 people, offering a wide range of financial services through subsidiaries like Citibank, Banamex, Diners Club International, and Aeroméxico.

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5. Wells Fargo. San Francisco, California

   2022 Revenue: $73.8 billion
   Market Cap: $157.34 billion

   Established during the 1852 Gold Rush, Wells Fargo initially focused on providing banking services and connecting the West with the rest of the U.S.

   Over the years, it became the largest stagecoach company and a leading express service provider. Now, Wells Fargo serves over 65 million customers worldwide with comprehensive financial services.

   Its subsidiaries include Wells Fargo Advisors, Abbot Downing, Wells Capital Management, and Evergreen Investments.

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6. MetLife. New York, New York

   2022 Revenue: $69.9 billion
   Market Cap: $57.10 billion

   MetLife, or Metropolitan Life Insurance Company, is part of MetLife, Inc., a holding corporation. While primarily a life insurance provider, MetLife also offers health, dental, vision, auto, home, and accident insurance.

   It serves clients across over 40 countries with a wide range of insurance, retirement, and savings options, catering to families, governments, and corporations worldwide.

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7. Morgan Stanley. New York City, New York

   2022 Revenue: $53.7 billion
   Market Cap: $143.78 billion

   Morgan Stanley specializes in wealth management, investment management, and institutional securities. Established in 1935, it arose from a split between commercial and investment banking entities.

   The firm manages approximately $715 billion in assets and maintains a global presence with offices in 35 countries.

   Key subsidiaries include E-Trade, Morgan Stanley Dean Witter Online, Inc., and Graystone Consulting.

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8. American Express. New York, New York

   2022 Revenue: $50.68 billion
   Market Cap: $109.93 billion

   American Express is a multinational financial services corporation known for its charge and credit cards. Founded in 1850, it originally operated as an express mail company.

   As of 2022, the company has over 114 million cards in circulation worldwide and is a prominent component of the Dow Jones Industrial Average.

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9. Goldman Sachs. New York, New York

   2022 Revenue: $47.37 billion
   Market Cap: $117.24 billion

   Founded in 1869, Goldman Sachs is an international investment bank providing services across investment management, securities, and asset management.

   The firm employs nearly 40,000 people and operates over 40 offices globally, with subsidiaries that include Goldman Sachs Bank USA, Goldman Sachs Capital Partners, and Marcus by Goldman Sachs.

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10. Capital One. McLean, Virginia

    2022 Revenue: $34.3 billion
    Market Cap: $35.49 billion

    Founded in 1994, Capital One is a bank holding company that offers credit cards, consumer banking, commercial banking, and auto loans.

    The company has made significant contributions to the popularity of credit cards since the 1990s. It ranks as the fifth-largest credit card issuer in the U.S. and also operates in Canada and the U.K.

    Capital One’s subsidiaries include Wikibuy, ShareBuilder, Paribus, United Income, and Blue Tarp.

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11. Fannie Mae. Washington, D.C.

    2022 Revenue: $29.74 billion
    Market Cap: $521.85 million

    Fannie Mae, or the Federal National Mortgage Association, was established in 1938 as part of the New Deal to enhance housing affordability in America.

    The organization plays a pivotal role in the housing market by purchasing mortgage loans from lenders, thereby increasing the availability of loans for homebuyers.

    Unique for being federally sponsored yet publicly traded, Fannie Mae operates alongside its sibling organizations, Freddie Mac and Ginnie Mae.

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12. U.S. Bancorp. Minneapolis, Minnesota

    2022 Revenue: $24.3 billion
    Market Cap: $66.73 billion

    U.S. Bancorp, a bank holding company, originated from the merger of three banks in the late 19th century, ultimately becoming U.S. Bancorp in 1968.

    It is widely recognized for its subsidiary, U.S. Bank National Association, which provides various banking and financial services.

    Other subsidiaries include Syncada, Elavon, and talech.

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13. Freddie Mac. Tysons Corner, Virginia

    2022 Revenue: $21.3 billion
    Market Cap: $297.34 million

    Freddie Mac, short for the Federal Home Loan Mortgage Corporation, was chartered by Congress in 1970 to enhance the liquidity and stability of the U.S. housing market.

    It operates similarly to Fannie Mae, focusing on smaller thrift banks, and has $2.063 trillion in assets under management.

    Like Fannie Mae, Freddie Mac is a government-sponsored entity that is publicly traded.

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14. The PNC Financial Services Group. Pittsburgh, Pennsylvania

    2022 Revenue: $21.1 billion
    Market Cap: $66.87 billion

    PNC Financial Services Group began as the Pittsburgh Trust and Savings Company in 1852, evolving through various mergers to become the PNC we know today.

    With approximately 52,000 employees, PNC offers retail banking, asset management, and corporate banking services, managing $300 billion in assets across 2,200 branches in the U.S. and offices in several countries.

    In 2020, PNC expanded its footprint by acquiring BBVA USA Bancshares, Inc. Its other subsidiaries include PNC Bank, Harris Williams & Co., and PNC Capital Advisors, LLC.

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Finance Industry FAQ

1. What is the largest finance company in the United States?

   The largest finance company in the U.S. is Berkshire Hathaway. This stands true in both revenue and market cap, with a revenue of $302.089 billion and a market cap of $683.10 billion as of 2022.

2. What is the size of the U.S. finance industry?

   The U.S. finance industry has a market size of $6.2 trillion. This sector represents a substantial portion of the U.S. economy and is projected to grow at a CAGR of 5.6% through 2030.

Author

Abby McCain

Abby is a writer who is passionate about the power of story. Whether it’s communicating complicated topics in a clear way or helping readers connect with another person or place from the comfort of their couch. Abby attended Oral Roberts University in Tulsa, Oklahoma, where she earned a degree in writing with concentrations in journalism and business.