Financial markets in the United States are the largest and liquid in the world. In 2018, finance and insurance represented 7.4 percent (or $1.5 trillion) of U.S. gross domestic product. Leadership in this large, high-growth sector translates into substantial economic activity and direct and indirect job creation in the United States.
In Missouri, we have the second-highest concentration of financial securities brokerage firms and transactions among the major U.S. metropolitan areas. While reinsurance companies headquartered or with a presence in the state represent 33% of the overall industry revenues and over 9% of the U.S. industry’s employment.
Our state also has the unique designation of being home to two Federal Reserve Banks in St. Louis and Kansas City, which form the foundation of our robust banking industry and financial services sector.
Where will the financial services industry be in 2020 and beyond?
How COVID-19 is Shaping the
Future of Retail Banking
Risk Exposures in Commercial Banking Amid COVID 19
Ray Dalio on the Economic Impact of the Coronavirus Crisis
Featured Industry Resources
The financial services industry faces a number of unique challenges as a result of COVID-19. These resources can help.
Take the Show Me Strong Pledge
Missourians are strong, resilient and ready to get back to business. The backbone of a healthy economic recovery depends on everyone’s willingness to help control the spread of COVID-19.
The Show Me Strong Pledge is a voluntary commitment to take a few simple steps that will aid in protecting the well-being of all Missourians.