The U.S. financial services industry is split into banking, insurance, venture capital and asset management subsectors, explains Select USA. Ranked by assets, the largest firm in the banking subsector as of 2015 is JP Morgan Chase, according to Bankrate. The biggest company in the insurance subsector is Metlife, reports NerdWallet.
Measured by the number of financing deals done, the most active U.S. venture capital firm in 2014 was Kleiner Perkins Caufield & Byers, reports Tech.co, citing a MoneyTree report. The company had closed 110 deals by the end of the year. Following closely was New Enterprise Associates, which closed 105 deals. Other venture capital firms with a significant number of deals include Andreessen Horowitz, First Round Capital and Google Ventures.
Notable firms in the asset management subsector include Bank of America, Morgan Stanley, JP Morgan, Wells Fargo and UBS, Barron's reports. By 2014, these five firms had boosted assets under management by 17 percent. The most successful of these companies was Bank of America, which, as of 2014, was managing assets from wealthy families with an aggregate value of over $1 trillion.
However, this pales in comparison to the value of JP Morgan Chase's assets, which, as of 2014, were valued at $2.52 trillion, explains Bankrate. Other large banks include Citigroup, Wells Fargo, Bank of New York Mellon, PNC Financial Services Group and Capital One Financial Corporation.