PAYMENT SOLUTIONS
LOS ANGELES
If it continues on its current trajectory , a city better-known for its actors and glamour is predicted to knock New York off the top spot .
The US Census Bureau reported recently that people are leaving New York at a faster rate than any other state in the US , with an exodus of 1.4 million people between 2010 and 2020 . The New York Business Journal also reported that California is the destination of choice for those leaving NY .
Los Angeles has seen an increasing number of fintech businesses establish themselves over the past decade , and this is mainly attributed to the high talent pool and lower real-estate costs . Some reports also show that the COVID-19 pandemic
Brexit and political instability has contributed to entrepreneurs seeking out the sunshine city as their base for financial services .
According to Selby Jennings – a specialist recruitment agency supplying tech talent – the disruption seen in Los Angeles is also a driving factor .
Biggest global banks in Los Angeles
• JP Morgan Chase
• Goldman Sachs
• BofA Securities