New York is the leading global financial center, employing over 344,700 people in banking and finance. Manhattan is at the heart of the New York financial district and hosts six major stock exchanges. Major financial institutions headquartered in New York include JPMorgan Chase and Bank of America. The city also has many universities that provide financial education programs. New York banks are innovators in mobile banking technology, though Toronto is still working to implement some technologies used in New York like Huntington Bank's foreign exchange tools.

1. New York Financial Cluster New York Financial Cluster and GTA Financial Cluster MRK 625 MT Anselm T

2. Toronto Financial Cluster Overview 17,000 financial services and firms Toronto’s financial cluster ranks among the world’s elite in terms of performance and growth expectations 210,000 people are employed in the City of Toronto in financial services particularly in banking

3. New York Financial Cluster Overview New York is the leading center of finance in the world economy since the end of World War 1 There are 344,700 workers employed in the City of New York in the financial industry There are over 500 corporations in New York and the largest of them include Jp Morgan and Chase and Bank of America

4. Manhattan is the financial district of New York Manhattan is the financial district of New York and is home to six major stock, commodities, and future exchanges American Stock Exchange, International Securities Exchange, NASDAQ, New York Board of Trade, New York Mercantile Exchange and New York Stock Exchange

5. New York Incubator and Structures Manhattan has 353.7 million square feet (32,860,000 m2) of office space in 2001 JP Morgan and Chase Nomura Securities and Investment Banking Brown Brothers Harriman and Commercial Banking Paribas North America Investment Banking Securities Blackrock Financial Management Investment

6. New York Financial Schools The Aventis school of excellence in New York offers a graduate program New York University (NYU) St. John’s University – School of Risk Management, Insurance, and Actuarial Science Metropolitan College of New York Invest Academy Wall Street

7. New York Financial News and Innovations CIBC has recently launched their iphone app for mobile banking in Toronto while New York is already implementing services that allows bumping of iphones to make transactions hence pay pal. They already have iphone apps such as American Express

8. Continued…. There is an increase of online and mobile banking technology. However, this does not eliminate the need for branch-based banking. Banks are integrating this technology into their branches in order to bring a more enjoyable and complete experience to their customers.

9. Contunied… ING direct has their CAFE, TD bank calls their locations stores and institutions such as Umpqua bank in new York are redefining the banking experience such as touch panels, product wall communities, local space, computer cafés and in-store shopping

10. Continued…. Huntington bank in New York can now can use a wide range of wall street ESN’s foreign exchange functionality that includes FX sales and trading tools, position management, e-trading, e-operations, back office, SWIFT interface, accounting and more. Toronto has not currently implemented this technology as of yet.

11. Continued…. Johnson financial group is taking initiative by installing an energy management control on heating, cooling and ventilation systems. It’s headquarters has saved up to 500,000 kilowatts-hours of electricity and 17,000 thermsof natural gas. According to bank officials in 2009, the bank cut it’s carbon dioxide emissions by 11,016,988 pounds and reduced the amount of waste in landfills by 22,351 pounds.

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