1. New York Financial Cluster
NewYork Financial Cluster and GTA Financial Cluster
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2. Toronto Financial Cluster Overview
17,000 financial services and firms
Torontos financial cluster ranks among the worlds elite in terms of performance and growth expectations
210,000 people are employed in the City of Toronto in financial services particularly in banking
3. New York Financial Cluster Overview
New York is the leading center of finance in the world economy since the end of World War 1
There are 344,700 workers employed in the City of New York in the financial industry
There are over 500 corporations in New York and the largest of them include Jp Morgan and Chase and Bank of America
4. Manhattan is the financial district of New York
Manhattan is the financial district of New York and is home to six major stock, commodities, and future exchanges
American Stock Exchange, International Securities Exchange, NASDAQ, New York Board of Trade, New York Mercantile Exchange and New York Stock Exchange
5. New York Incubator and Structures
Manhattan has 353.7 million square feet (32,860,000 m2) of office space in 2001
JP Morgan and Chase
Nomura Securities and Investment Banking
Brown Brothers Harriman and Commercial Banking
Paribas North America Investment Banking Securities
Blackrock Financial Management Investment
6. New York Financial Schools
The Aventis school of excellence in New York offers a graduate program
New York University (NYU)
St. Johns University School of Risk Management, Insurance, and Actuarial Science
Metropolitan College of New York
Invest Academy Wall Street
7. New York Financial News andInnovations
CIBC has recently launched their iphone app for mobile banking in Toronto while New York is already implementing services that allows bumping of iphones to make transactions hence pay pal. They already have iphone apps such as American Express
8. Continued.
There is an increase of online and mobile banking technology. However, this does not eliminate the need for branch-based banking. Banks are integrating this technology into their branches in order to bring a more enjoyable and complete experience to their customers.
9. Contunied
ING direct has their CAFE, TD bank calls their locations stores and institutions such as Umpqua bank in new York are redefining the banking experiencesuch as touch panels, product wall communities, local space, computer cafs and in-store shopping
10. Continued.
Huntington bank in New York can now can use a wide range of wall street ESNs foreign exchange functionality that includes FX sales and trading tools, position management, e-trading, e-operations, back office, SWIFT interface, accounting and more. Toronto has not currently implemented this technology as of yet.
11. Continued.
Johnson financial group is taking initiative by installing an energy management control on heating, cooling and ventilation systems. Its headquarters has saved up to 500,000 kilowatts-hours of electricity and 17,000 thermsof natural gas. According to bank officials in 2009, the bank cut its carbon dioxide emissions by 11,016,988 pounds and reduced the amount of waste in landfills by 22,351 pounds.
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