Professional Services

Financial Services

A leading U.S. financial services sector invested in stability and growth.

Establishing operations in Northeast Ohio makes good financial sense.

With one of the nation’s largest financial services sectors, a 100-plus year industry legacy, a Federal Reserve Bank, more than 60,000 financial services professionals, and 18 higher education institutions with finance and business programs, the Northeast Ohio Region is well equipped to support financial business success.

On top of a strong financial business ecosystem, finance companies that establish operations in the Northeast Ohio Region benefit from operating and wage costs that are a fraction of other top markets, low risk of disruptive natural disasters, plus access to Ohio’s 44,000 annual financial services graduates.

Northeast Ohio offers emerging opportunities in cybersecurity, data management, process management, credential management, decentralized finance, and more, making the region well poised to support the future of the industry.

A robust, highly trained workforce + low business costs = successful financial operations

The Northeast Ohio Region’s impressive financial sector and workforce, paired with low rental and wage costs, makes it a sound option for businesses in the financial sector.

5th largest

5th largest financial sector in the U.S.

Companies

5th

5th in number of Fortune 500 & 1000 companies in the U.S.

1/2 of new york

1⁄2 of New York City’s wage cost

1/4 of new york

1⁄4 of New York City’s commercial rental cost

60,000+

60,000+ financial service professionals

Rocket Mortgage

Success Story: Rocket Mortgage

Rocket Mortgage (Quicken Loans), America’s largest mortgage lender and creator of the first fully digital mortgage experience, recently completed an expansion project in downtown Cleveland. The project
adds 630 new jobs and $47.3 million in payroll to the area – on top of the company’s existing Northeast Ohio-based workforce of 700-plus.

Rocket Mortgage considered several cities before expanding in Cleveland. Mike Malloy, Chief Amazement Officer for Rocket Mortgage told Crain’s Cleveland Business “The core of … the growth of any city is good-paying jobs that allow its citizens the opportunity for success. And the city of Cleveland and the state of Ohio are very committed to that.”

The expansion is providing careers – primarily for mortgage bankers – representing tens of millions of dollars in payroll. Rocket Mortgage is also dedicated to facilitating training and upskilling for employees looking to further their careers.

Top 10 Financial Services Employers in Northeast Ohio

CompanyEmployees
Progressive Corp.12,849
KeyCorp5,648
Huntington National Bank3,593
Medical Mutual of Ohio2,342
Westfield1,612
UnitedHealthcare1,300
JPMorgan Chase & Co.1,039
Federal Reserve Bank of Cleveland939
Third Federal Savings and Loan827
Citizens Bank559

Top 10 Financial Services Occupations in Northeast Ohio

OccupationEmployed in Industry
Tellers5,398
Securities, Commodities, and Financial Services Sales Agents5,346
Customer Service Representatives4,742
Personal Financial Advisors3,199
Loan Officers2,995
Insurance Sales Agents2,352
Claims Adjusters, Examiners, and Investigators2,111
Loan Interviewers and Clerks2,048
Financial Managers1,919
Insurance Claims and Policy Processing Clerks1,849
Sylvio Mecone

Sylvio Mecone

Senior Director of Business Development, Team NEO

Contact us.