Miami-Dade: Discover More About the Finance Capital of Latin America

The Financial Center for Latin America

Banks and financial services companies like Visa and PayPal are investing in Miami-Dade County. Known as the financial capital of Latin America, Miami-Dade has the largest concentration of domestic and international banks on the East Coast south of New York City.

Private banking, wealth management and trade finance are important components of the region’s financial sector, attracting institutions from Europe, Latin America and Canada serving individual, family and business customers. Miami-Dade’s domestic banking system also is thriving in keeping with the region’s economic vitality.

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Industry Overview

Number of Companies	3,052
Number of Employees	40,691
Average Annual Salary	$130,849

Industry Subsectors & Data

Description	2017 Establishments	2018 Jobs	Avg. Earnings Per Job
Commercial Banking	564	12,245	$102,012
Savings Institutions	64	1,009	$83,211
Credit Unions	67	906	$58,596
Other Depository Credit Intermediation	5	50	$107,987
Credit Card Issuing	13	125	$133,672
Sales Financing	64	333	$72,163
Consumer Lending	114	1,579	$78,434
Real Estate Credit	135	1,728	$125,920
International Trade Financing	49	926	$164,921
Mortgage and Nonmortgage Loan Brokers	128	848	$118,762
Financial Transactions Processing, Reserve, and Clearinghouse Activities	96	1,735	$130,871
Other Activities Related to Credit Intermediation	65	394	$84,215
Investment Banking and Securities Dealing	106	2,003	$320,929
Securities Brokerage	206	2,868	$270,897
Commodity Contracts Dealing	57	221	$165,000
Commodity Contracts Brokerage	17	47	$133,634
Securities and Commodity Exchanges	2	17	$50,419
Miscellaneous Intermediation	85	380	$100,065
Portfolio Management	217	1,226	$228,984
Investment Advice	479	1,548	$110,668
Trust, Fiduciary, and Custody Activities	20	73	$173,704
Miscellaneous Financial Investment Activities	145	419	$125,068
Direct Life Insurance Carriers	35	1,676	$103,837
Direct Health and Medical Insurance Carriers	85	4,999	$91,755
Direct Property and Casualty Insurance Carriers	108	2,594	$122,205
Direct Title Insurance Carriers	38	121	$81,403
Other Direct Insurance (except Life, Health, and Medical) Carriers	25	245	$69,270
Reinsurance Carriers	19	290	$181,039
Open-End Investment Funds	10	15	$219,374
Trusts, Estates, and Agency Accounts	20	32	$64,621
Other Financial Vehicles	16	38	$79,762
Total	3,052	40,691	$130,849

Major Employers

Assurant
BankUnited
BUPA
Wells Fargo
Bank of America
Visa International
Itau Private Bank

Industry-Focused Talent Development Programs

Miami Dade College

-Banking http://www.mdc.edu/banking/

-Financial Management http://www.mdc.edu/financialmanagement/

-Mortgage Finance http://www.mdc.edu/mortgagefinance/

Miami-Dade County Public Schools

-Academy of Finance http://yourchoicemiami.org/academy-of-finance-aof/

Florida International University

-College of Business https://business.fiu.edu/index3.cfm

University of Miami

-Miami Business School http://www.bus.miami.edu/index.html

Barry University

-Andreas School of Business http://www.barry.edu/business/

St. Thomas University

-Gus Machado School of Business https://www.stu.edu/business

Florida Memorial University

-School of Business http://www.fmuniv.edu/academics/school-of-business/

What Industry Leaders Are Saying

TotalBank

“South Florida’s strengths stem from its globally strategic geographical location, vibrant economy and cultural compatibility. That said, our bank is well capitalized to serve a local community that is providing us growth”

– Jorge Rossell, Chairman and CEO

Grove Bank & Trust

Highlights Video

Meet Mario J. Sacasa

Banking & Finance Subject Matter Expert

Mario J. Sacasa is Senior Vice President of International Economic Development Programs for The Beacon Council, Miami-Dade County’s Official Public-Private Economic Development Partnership….. View Bio