Finance/Banking Employers in Texas? (Houston, San Antonio: taxes, shops, move)

[Pilsn3r]

Originally Posted by ParaguaneroSwag

Was the loss of Stanford really that impactful in employment? From my understanding they had a small staff purposely to keep things undercover. I mean a loss is a loss but it’s not say Leeheman brothers or something.

They had about 3k employees nationally with many in Houston. They had 50 or 60 branches with 5 to 20 employees each so maybe 2k in Houston.

[TX Rover]

Originally Posted by LocalPlanner

Yes but in terms of political persuasion, the core of the "blue" areas runs along I-35 in TX, and of course almost that whole corridor is growing like gangbusters. Harris and Fort Bend counties together are also very high-population "blue" areas and are both growing (though Harris is starting to level off as people migrate outwards), but are very much isolated from the rest of the "blue" parts of TX as well as the other TX high-growth areas. Brazoria County may eventually become "blue" (who knows, maybe sooner than I think), but it's hard to imagine any other Houston metro counties being more than a reddish shade of purple anytime soon, despite the growth. The I-35 corridor seems more straight "blue" or bluish-purple and has four of the big Triangle cities plus very high growth bluish-purple suburbs.

Do you understand the shape of a triangle? Two points connected by a third? You know - kind of like Harris/Travis/Dallas?

[LocalPlanner]

Originally Posted by TX Rover

Do you understand the shape of a triangle? Two points connected by a third? You know - kind of like Harris/Travis/Dallas?

Yes, did you read my posts? My point was that there's a whole string of counties - even suburban counties - along I-35 most of the way from DFW through SA that are "blue" or trending that way and account for both the greatest share of population growth in TX (I should note that's because DFW is so huge) and the epicenter of the "blue" growth. Houston is by itself on the opposite vertex of the triangle, and its two legs aren't like that at all in terms of growth, and at this point only one suburban county can be considered any shade of "blue". The size of Harris County itself obviously somewhat offsets that, obviously.

[ParaguaneroSwag]

Originally Posted by LocalPlanner

Yes, did you read my posts? My point was that there's a whole string of counties - even suburban counties - along I-35 most of the way from DFW through SA that are "blue" or trending that way and account for both the greatest share of population growth in TX (I should note that's because DFW is so huge) and the epicenter of the "blue" growth. Houston is by itself on the opposite vertex of the triangle, and its two legs aren't like that at all in terms of growth, and at this point only one suburban county can be considered any shade of "blue". The size of Harris County itself obviously somewhat offsets that, obviously.

You realize that one suburban county counts as one more suburban county that voted any shade of blue as opposed to DFW and San Antonio even with Harris County’s huge size and pop. And yes, DFW will likely get its first blue voting suburban county either the next election or the one after. But as of now it hasn’t so it’s kind of odd to put it all on the I-35 corridor. Every single suburban or rural county outside of the Austin metro voted red. The Texas Triangle is definitely the more accurate depiction.

[Tiredofnyclife]

Did some research. Fidelity, Charles Schwab, Wells Fargo, Morgan Stanley, Citi on the sell side. Also some pe firms like Lazard for the buy side. Any other suggestions?

[Pilsn3r]

Originally Posted by Tiredofnyclife

Did some research. Fidelity, Charles Schwab, Wells Fargo, Morgan Stanley, Citi on the sell side. Also some pe firms like Lazard for the buy side. Any other suggestions?

There are many more - some of the bigger name companies with compliance/ops centers (some could be small or big centers in the DFW area) - JP Morgan Chase (big office), Robinhood (big office), SoFi (small?), TIAA (small?), Apex Clearing (big), Avantax (formerly HD Vest - HQ in DFW), Hilltop Holdings (clearing firm, BD, IA bank and mortgage), and probably many more.

Houston has Next Securities (HQ in Houston). Invesco (mutual fund company - big)

PE side I didn't do too much with these but TPG is huge worldwide and in Ft. Worth. Many other smaller ones that I can't remember but a few located in the Crescent building in/near downtown Dallas or Galleria area of DFW. Houston has many too - more internationally focused.

edit to add: Not too much in Austin - I remember Tejas Securities, but they went they way of Stanford Financial...
Austin has a number of small FinTechs and small independent shops, but I don't remember any big ones other than Tejas Securities. San Antonio the big ones are USAA and Frost Bank/Securities. They also have a few smaller shops.

[Tiredofnyclife]

Originally Posted by Pilsn3r

There are many more - some of the bigger name companies with compliance/ops centers (some could be small or big centers in the DFW area) - JP Morgan Chase (big office), Robinhood (big office), SoFi (small?), TIAA (small?), Apex Clearing (big), Avantax (formerly HD Vest - HQ in DFW), Hilltop Holdings (clearing firm, BD, IA bank and mortgage), and probably many more.

Houston has Next Securities (HQ in Houston). Invesco (mutual fund company - big)

PE side I didn't do too much with these but TPG is huge worldwide and in Ft. Worth. Many other smaller ones that I can't remember but a few located in the Crescent building in/near downtown Dallas or Galleria area of DFW. Houston has many too - more internationally focused.

edit to add: Not too much in Austin - I remember Tejas Securities, but they went they way of Stanford Financial...
Austin has a number of small FinTechs and small independent shops, but I don't remember any big ones other than Tejas Securities. San Antonio the big ones are USAA and Frost Bank/Securities. They also have a few smaller shops.

Thanks for the update. Any insight into Latin American banks in Texas? I used to work for Banamex before the acquisition by Citi and speak Spanish fluently.

[LocalPlanner]

Originally Posted by ParaguaneroSwag

You realize that one suburban county counts as one more suburban county that voted any shade of blue as opposed to DFW and San Antonio even with Harris County’s huge size and pop. And yes, DFW will likely get its first blue voting suburban county either the next election or the one after. But as of now it hasn’t so it’s kind of odd to put it all on the I-35 corridor. Every single suburban or rural county outside of the Austin metro voted red. The Texas Triangle is definitely the more accurate depiction.

I'm not the person who came up with "I-35 blue spine". The presidential election was one thing, but (without pulling up the map right now) multiple suburban areas along I-35 voted for Beto over Cruz in 2018 and have also elected Democratic state or U.S. reps (we'll see how gerrymandering changes that I guess). Plus, notably, Tarrant County is now considered "purple" which is a big change. I certainly consider Austin and DFW suburbs more purple than I do Houston area suburbs, though as I said Brazoria County burbs may head that way soon.

You can read the posts in this and other DFW forums about how conservatives are so disappointed now that so much of the DFW metro is blue or purple - Tarrant and Collin counties "purpling" seems to really bother them. Along with Williamson County and Hays County around Austin becoming a lot more purple. For whatever reason, for now, liberal-leaning voters around Houston seem more geographically concentrated in two counties (albeit high-growth and high-population counties) while there is more geographic dispersal of them in the I-35 corridor. As I've noted, there's no equivalent to Montgomery County (high-growth, high-population, very dominantly "red") elsewhere in TX, maybe not anywhere in the nation (maybe in Florida?). I used to think Collin County was similar to Montgomery, but it changed quickly.

[Pilsn3r]

Originally Posted by Tiredofnyclife

Thanks for the update. Any insight into Latin American banks in Texas? I used to work for Banamex before the acquisition by Citi and speak Spanish fluently.

Not much. I remember a couple in San Antonio and Houston, but they were all small shops that catered to HNW Latin American customers. It's been too long and I don't remember their names. I remember a couple in the Houston Galleria/Westheimer area. They were small though. Miami area has bigger ones from what I recall.

[ParaguaneroSwag]

Originally Posted by LocalPlanner

I'm not the person who came up with "I-35 blue spine". The presidential election was one thing, but (without pulling up the map right now) multiple suburban areas along I-35 voted for Beto over Cruz in 2018 and have also elected Democratic state or U.S. reps (we'll see how gerrymandering changes that I guess). Plus, notably, Tarrant County is now considered "purple" which is a big change. I certainly consider Austin and DFW suburbs more purple than I do Houston area suburbs, though as I said Brazoria County burbs may head that way soon.

You can read the posts in this and other DFW forums about how conservatives are so disappointed now that so much of the DFW metro is blue or purple - Tarrant and Collin counties "purpling" seems to really bother them. Along with Williamson County and Hays County around Austin becoming a lot more purple. For whatever reason, for now, liberal-leaning voters around Houston seem more geographically concentrated in two counties (albeit high-growth and high-population counties) while there is more geographic dispersal of them in the I-35 corridor. As I've noted, there's no equivalent to Montgomery County (high-growth, high-population, very dominantly "red") elsewhere in TX, maybe not anywhere in the nation (maybe in Florida?). I used to think Collin County was similar to Montgomery, but it changed quickly.

I will admit that you make a good case that the political affiliation of the Houston area is a bit more segregated than DFW. But that’s basically it. Both metros are about the same red to blue ratio. The reason for the number of counties is the same as the reason DFW has more cities which are 100K+ in pop. The central county city is so huge in Houston/Harris County.

I’m sure you aren’t the first person to say blue spine but it’s also not the most common way to describe why Texas is tending blue. Usually people point at the large cities as a whole. Hence the Texas triangle.

And rural Hispanics voting red is a miracle for the Texas Republican Party.