On Wednesday, May 24, the held its annual Las Vegas Perspective event, providing discussions on topics surrounding economic development data, analysis and forecasting for Southern Nevada.
Global Banking and Financial Services
Southern Nevada has a diverse, abundant, and customer service oriented workforce that makes it a destination for the back office operations of financial service firms and business services firms. Southern Nevada has also developed a unique expertise in the financial services industry, with many high value firms specializing in financial services related to the global gaming and tourism industry. Industrial loan companies like Toyota Financial Savings Bank and USAA Savings Bank take advantage of Southern Nevada’s unique regulatory environment, and more than 10% of all industrial loan companies in the United States are headquartered in Southern Nevada. Scroll down to learn more.
Global banking, business & financial services CLUSTER
|Employment in Cluster||25,670|
|Regional Yearly Average Wage in Cluster||$62,275|
|Cluster Employment Growth (2014/15)||-1.8%|
SOUTHERN NEVADA banking & financial services INDUSTRIES
REGIONAL AVERAGE WAGES
|Credit Card Issuing||$64,221|
|Financial Transaction Processing & Clearinghouse Activities||$57,567|
Financial services back office
Southern Nevada is home to the back office and customer contact facilities of many major financial institutions. Some of the larger ones are listed below.
Industrial Loan Companies
Industrial loan companies, also known as industrial banks, are financial services firms owned by companies engaged in commercial activities that are not necessarily financial activities. Nevada is one of only two states with a significant presence in the industrial banking industry. Though these companies are not often known to the consumer, they play a pivotal role in the operation of some of America’s largest companies. To learn more about Industrial Loan Companies, click over to this Milken Institute report.
FInancial Services FIRMS
Southern Nevada is home to some of the most innovative and profitable financial services firms in America, including Fidelity National Financial, a Fortune 500 company and a leading provider of title insurance, technology, and transition services to the real estate and mortgage industries, that relocated its headquarters from Jacksonville to Las Vegas in 2015.