Page 18 - Guide to Greater Philadelphia

FINANCIAL & PROFESSIONAL SERVICES
your trusted advisors work here
Professional-services talent in Greater Philadelphia helps business grow.
SECTOR LEADERS
• PwC provides assurance, tax and business con- sulting services and has been ranked as one of the top places to work in the Philadelphia metro area by Philly.com. The firm employs some 1,900 people in the region.
• JPMorgan Chase is one of the world’s
leading financial services firms. The company has approximately 9,000 employees in the Philadelphia area, making it one of the largest employers. In addition, JPMorgan Chase has reached out to the community, for example, by investing in summer youth employment programs in Philadelphia and other cities.
• Janney Montgomery Scott is a full-service wealth management, financial services and investment banking firm that maintains its headquarters in Philadelphia. Eight of the firm’s financial advisors were named to Barron’s 2017 list of “Top 1,200 Financial Advisors.”
COMPANIES TO WATCH
• SEI, a financial services company with invest- ment advisors, investment managers and insti- tutional and individual investors as its clients, plans to add 200 employees in 2017, continuing its five-year hiring trend. With an open-space, innovative headquarters in Oaks, SEI was named one of Philly’s Coolest Companies in 2015 by Philadelphia Magazine and one of the Best Places to Work in Money Management by Pensions and Investments in 2016.
• With global headquarters in Malvern, PA, Vanguard plans to add 100 new employees to its current regional workforce of 10,000 financial services professionals with the opening of its Vanguard Innovation Center in Philadelphia.
Greater Philadelphia has one of the most educated workforces in the country. The financial and profes- sional services sector accounts for more than 220,600 employees and 27 percent of the gross regional product. This fact, combined with low hiring costs, gives the region an edge in attracting companies from the banking, investments, securities, insurance, leasing real estate, and related financial services sectors.
In the Greater Philadelphia metropolitan area, pro- fessional and business services had the largest employ- ment gain from August 2015 to August 2016, adding 19,300 jobs. According to the U.S. Bureau of Labor Statistics, the Philadelphia area’s 4.3-percent growth
in professional and business services employment was higher than the nationwide increase of 2.7 percent.
Within the region, the state of Delaware is a major financial services hub. The state is home to 2,000 finance companies, which employ more than 36,600 people. Many major banking, insurance and financial services employ- ers have a presence in the state, including Barclays, Capital One, Deutsche Bank, Wells Fargo, PNC, WSFS, Bank of America and JPMorgan Chase.
Greater Philadelphia’s historic prominence as
a financial services epicenter continues today, with national and global leaders calling this region home, including BB&T, Citizens Bank, Janney Montgomery Scott, PNC Bank, TD Bank, Lincoln Financial, Macquarie, SEI and Vanguard.
In addition to financial expertise, the region is also serviced by major consultancy and advisory firms, including global leaders BDO, Deloitte, EY, KPMG, PwC and RSM, along with niche providers, such as Citrin
TECHNOLOGY
designing the future
Powerful advances in technology start in Greater Philadelphia.
Cooperman and Stephano Slack, who focus on servicing the startup, entrepreneurial and family-owned business community.
The region is also home to some of the nation’s top colleges and universities that are filling our regional, national, and global pipeline of talent through competi- tive programs in business, management, marketing and related fields as the top areas of study. There are 102 colleges and universities that cater to about 500,000 students — the fourth-largest university population among all U.S. metropolitan areas. The most highly ranked business school in the nation, according to
U.S. News & World Report in 2017, is also the nation’s first — the Wharton School of Business at the University of Pennsylvania. The Wharton School’s success has spawned a clustering effect with Temple’s award- winning Fox School of Business, Drexel’s LeBow College of Business, Villanova University’s School of Business and Rowan University’s new Rohrer College of Business each being located nearby.
Many of the graduates from these and other elite business programs expand their expertise into the fields of scientific research and development, computer systems design, management consulting, accounting, legal services, architecture and engineering.
The financial and professional services firms in Greater Philadelphia take full advantage of the region’s young and ambitious graduates and put them on the path to be tomorrow’s business leaders.
From Benjamin Franklin’s 1752 kite experiment proving the electric nature of lightning, to the creation of the first computer at the University of Pennsylvania in 1946, Philadelphia continues to be a center for technological innovation.
That spirit carries through to today, making Greater Philadelphia a hotbed for the information and technology sector and a welcoming incubator for the innovators and entrepreneurs who are designing the future. The region is also home to many companies that provide both the hardware and software to make our electronic devices better — smaller, faster and easier to use.
In addition, many of the business sectors that drive our region’s economy — including the life sci- ences, healthcare, telecommunications, manufacturing and financial services — make use of skilled computer and information specialists.
The regional information technology industry has enjoyed considerable growth in the past 15 years, at an annual rate of 4.4 percent since 2001, exceeding the regional GDP growth rate. And thanks to
the 10 information and technology schools located throughout the region — including the University of Delaware, Rowan, Rutgers, Penn State, Drexel, Penn, Villanova and Temple universities — the number of highly skilled IT employees available to businesses is on the rise and fueling growth in diverse ways.
16 | Guide to Greater Philadelphia