logo redirect pin user minus plus fax mobile-phone office-phone data envelope globe outlook retail close line-arrow-down solid-triangle-down facebook globe2 google hamburger line-arrow-left solid-triangle-left linkedin wechat play-btn line-arrow-right arrow-right solid-triangle-right search twitter line-arrow-up solid-triangle-up calendar globe-americas globe-apac globe-emea external-link music picture paper pictures play gallery download rss-feed vcard account-loading collection external-link2 internal-link share-link icon-close2
United States
  • Global
  • United States
  • Angola
  • Argentina
  • Australia
  • Austria
  • Bahrain
  • Baltics
  • Belgium
  • Brazil
  • Bulgaria
  • Cambodia
  • Canada
  • Chile
  • Colombia
  • Czech Republic
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Greece
  • Hong Kong
  • Hungary
  • India
  • Indonesia
  • Ireland
  • Israel
  • Italy
  • Japan
  • Jordan
  • Kazakhstan
  • Kenya
  • Korea
  • Kuwait
  • Latin America
  • Luxembourg
  • Mainland China
  • Malaysia
  • Mexico
  • Morocco
  • Netherlands
  • New Zealand
  • Norway
  • Oman
  • Pakistan
  • Panama
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Romania
  • Russia
  • Saudi Arabia
  • Singapore
  • Slovakia
  • South Eastern Europe
  • Spain
  • Sweden
  • Switzerland
  • Taiwan
  • Thailand
  • Turkey
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Venezuela
  • Vietnam
Log In
  • Global Intranet
  • myCBRE
  • Services
    • Business Segments

      Advisory Services

      Global Workplace Solutions

      Real Estate Investments

      • Advisory & Transaction Services
      • Capital Markets
      • Project Management
      • Property Management
      • Valuation & Advisory Services
      • Advisory & Transaction Services | Occupier
      • Client Strategy and Consulting
      • Facilities Management
      • Project Management
      • Development Services (Trammell Crow Company)
      • Flexible Space Solutions (Hana)
      • Investment Management (CBRE Global Investors)
    • Services for Investors
      • Appraisal Management
      • Debt and Loan Valuation
      • Federal Government Leases
      • Leasing & Advisory
      • Litigation Support
      • Net Lease Properties
      • Small Balance Lending
      • Corporate Capital Markets
      • Debt & Structured Finance
      • Going Concern Valuation
      • Investment Accounting & Reporting Solutions
      • Loan Portfolio Sales
      • Property Management
      • Telecom Advisory
      • Construction Risk Management
      • Energy & Sustainability
      • Host
      • Investment Banking
      • Loan Servicing
      • Property Sales
      • Valuations for Financial & Tax Reporting
    • Services for Occupiers
      • Business Transition & Move Management
      • Energy & Sustainability
      • Host
      • Location Analytics
      • Portfolio Services
      • Space Enablement
      • Client Strategy and Consulting
      • Expense Management Solutions
      • Labor Analytics
      • Location Incentives
      • Project Management
      • Workplace
      • Corporate Capital Markets
      • Facilities Management
      • Leasing & Advisory
      • Network Advisory
      • Real Estate Accounting
    • Asset Types & Specialties
      • Office
      • Aerospace and Defense
      • Data Centers
      • Golf & Resorts
      • Multifamily
      • Parking
      • Industrial & Logistics
      • Affordable Housing
      • Hotels
      • Land
      • Nonprofit
      • Self-Storage
      • Retail
      • Aviation Properties
      • Gaming
      • Manufactured Housing
      • Omnichannel
      • Senior Housing
    • Industry Sectors
      • Industrial & Logistics
      • Energy, Oil & Gas
      • Law Firms
      • Technology, Media & Telecom
      • Retail
      • Financial Services
      • Life Sciences
      • Data Centers
      • Healthcare
      • Student Housing & Education
  • Properties
  • Research & Insight
    • Latest National Research & Reports
      The Way Forward
      Weekly Insights
      Reopening the World's Workplaces
      COVID Resource Center
  • People & Offices
  • About CBRE
    • Careers
      Case Studies
      Corporate Information
      Corporate Responsibility
      Executive Leadership - Global
      Investor Relations
      Media Center
      Suppliers

Next

CBRE Recognized for Real Estate Industry’s "Best Use of Automation" by Realcomm
  • About CBRE
  • Media Center
  • Financial Services Firms Expanding Strongly in Secondary Markets Across the U.S.

Financial Services Firms Expanding Strongly in Secondary Markets Across the U.S.

October 31, 2016
  • Email
  • Share
  • Tweet
  • Share

CBRE Report identifies Dallas/Fort Worth, others as “new cities of finance”

​Dallas – October 31, 2016 – The U.S. financial services industry, faced with heightened regulations and competition for skilled labor from technology companies, increasingly is finding the workers it needs by expanding to markets like Dallas/Fort Worth according to a new report from CBRE Group, Inc.

In its inaugural annual report on the financial services industry, CBRE examines markets across the U.S. for their availability and cost of highly skilled workers, particularly those with technology backgrounds. 

The report showed that of all “active” markets, Dallas/Fort Worth experienced the greatest financial services employment growth, adding 284,600 jobs since 2010. This growth is due to the robust talent available in the Dallas/Fort Worth market as well as the low cost of doing business in the area, according to Kristin Sexton, CBRE’s Managing Director of Labor Analytics.

In addition to DFW, CBRE found that other active markets have posted significant growth in financial services employment over the last six years. The active markets that have above-average growth in financial-services employment, according to the CBRE report, are:

 

            San Antonio                                        Columbus, Ohio

            Nashville                                            Phoenix

            Dallas/Fort Worth                             Jacksonville, Fla.

            Salt Lake City                                     Tampa

            Richmond, Va.                                    Charlotte

 

“New economic realities, continued regulatory pressure and the threat of technology disruption are unrelenting forces driving changes in the financial services industry,” said Julie Whelan, CBRE’s Head of Occupier Research in the Americas. “Firms are shaping their real-estate strategy in response to these trends and a number of ‘new cities of finance’ are emerging across the U.S.”

“Dallas is a city with a very deep labor pool that can allow financial services companies to expand rapidly,” said Josh White, Executive Vice President in CBRE’s Dallas office. “In addition, Dallas is becoming a mature, metropolitan city that can now compete with established markets in terms of access to the arts, culture and urban living opportunities, all of which make it a very appealing option for companies that are looking to relocate.”

The report further identifies five “next-generation” markets that, according to proprietary analysis by CBRE’s Labor Analytics group, offer affordable real estate and expanding pools of skilled labor even though the financial-services industry has, as yet, as smaller footprint in each. Included among those are Boise, Idaho, and Provo, Utah. 

Based on CBRE’s examination of skilled-labor availability, labor costs, real-estate costs, market education levels and other factors, many of these active and next-generation markets scored highly as ideal recruiting and employment centers for the types of workers sought by the industry.

·      Salt Lake City, Tampa, San Antonio, Phoenix and Columbus rank highly among cities offering the best mix of labor availability and cost for shared services jobs, which include back-office roles such as accounting, human resources, legal and finance.

·      Columbus, Charlotte and Phoenix rank as ideal recruiting grounds for risk and compliance workers, such as quantitative analysts, mathematicians and compliance officers.

·      Provo (Utah), Salt Lake City and Charlotte are among those atop the list of cities providing a balance of labor availability and cost for financial-services technology jobs such as software developers, web developers and information-security analysts. 

“Financial services companies are continuing to seek out new and emerging locations that provide them with access to talent at affordable rates,” said Ms. Sexton. “Labor is the driving force behind the growth of the financial services industry in these smaller, ‘active’ markets.”

To view the full report, click here.

​

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com​.

Contact

AB-headshot2
Alaina Brodsky
Corporate Communications
+1 214 979 5625
  • Corporate Information
  • Corporate Responsibility
  • Case Studies
  • Media Center
  • About Us
  • Careers
  • People and Offices
  • Global Leadership
  • Investor Relations
  • Contact Us
  • Global Web Privacy and Cookie Policy
  • Sitemap
  • Terms of Use
  • United States Privacy Policy
  • Our Response to SCHREMS II
  • Twitter
  • Facebook
  • LinkedIn