- Banks and financial institutions are expanding their operations in Texas.
- Corporations across industries are flocking to the state, which promises business-friendly taxes.
- From Goldman to the New York Stock Exchange, here's what some of the big financial players are up to in Texas.
When it comes to finance, it's no longer New York or nowhere — and construction on Goldman Sachs' sprawling new campus is the clearest sign yet.
The firm's new campus adds to a growing list of Wall Street names betting on Texas, drawn by low taxes, light regulations, and a cheaper cost of living. Banks and financial institutions are among hundreds of businesses hopping on the trend, setting up flashy campuses in Dallas, which some have coined "Y'all Street." Others, like Vanguard, are opening up regional offices in the area. Earlier this year, lawmakers passed bills that they say will bring more businesses to the state.
From JPMorgan to the New York Stock Exchange, here are some of the big finance players growing their footprint in the Lone Star State.
Goldman Sachs
Goldman Sachs is spending $500 million on a new campus in Dallas, the site of its largest US workforce outside New York City. More than 5,000 employees are expected to work out of the campus.
The 800,000-square-foot office is expected to open in 2028, Business Insider previously reported. It will be full of amenities: fitness and wellness facilities, multiple dining options, childcare services, lounges, event and client conference spaces, bike parking, and rooftop gardens and terraces.
Goldman Sachs has had a presence in Dallas for nearly 60 years, primarily across private wealth management and investment banking, but employees in the area now span all divisions and businesses. The number of applicants to the bank's Dallas program has increased by 52% in the past five years, as the Dallas Business News Journal previously reported.
Bank of America
Bank of America is moving to a brand new tower in Dallas: Bank of America Tower at Parkside. Employees are expected to move into the building in the third quarter of 2027, according to a spokesperson. Around 1,000 employees are expected to work in the building, which hopes to become "Dallas' most coveted office address," according to its website.
The bank will use nine of the building's 30 floors, and amenities will include a fitness center, coffee and drink bar, floor-to-ceiling windows, green walls, and terraces, the spokesperson said. The new building is less than a mile from Goldman's upcoming Dallas headquarters.
As of July, 19,000 Bank of America employees worked in Texas, with 14,480 of them in the Dallas-Fort Worth area.
JPMorgan
More than 12,500 employees work out of JPMorgan Chase's campus in Plano, Texas, a major suburb of Dallas. The number of employees working in the complex has doubled since it opened in 2017, a spokesperson told Business Insider. There are two cafeterias and an on-site smokehouse, according to a video on the bank's social media.
The campus sits on 50 acres and includes four buildings across 1.5 million square feet of office space. Tech plays a big role in the area: Dallas is one of the bank's key global tech centers, with more than 5,000 technologists working locally.
As of 20 years ago, 20,000 JPMorgan staffers worked in Texas. Now, that number is more than 32,000, the most of any state.
New York Stock Exchange
The New York Stock Exchange announced in February that it's relocating its Chicago outpost to Dallas. NYSE Texas officially opened on March 31, 2025, a spokesperson said.
On August 4, Bryan Daniel was appointed as NYSE Texas President, and the stock exchange announced it had signed a lease at the Old Parkland campus in Dallas. The campus is expected to open next year, the spokesperson told Business Insider.
The NYSE already had employees in Dallas working on the Capital Markets and Listings teams who focus on the region, according to the spokesperson.
"As the state with the largest number of NYSE listings, representing over $3.7 trillion in market value for our community, Texas is a market leader in fostering a pro-business atmosphere," NYSE Group president Lynn Martin said in a statement in February.
Charles Schwab
Charles Schwab opened its global headquarters in Westlake, Texas, in late 2019. The campus includes seven buildings, sits on 70 acres in the Dallas suburb, and has a food hall, walking paths, showers, coffee bars, and electric vehicle chargers.
More than 6,000 employees work in the broader Dallas-Fort Worth area and almost 10,000 work across the state, a spokesperson told Business Insider. The financial services company opened its first branch in Dallas-Fort Worth in 1977, and used to be headquartered in San Francisco. The switch was announced when Charles Schwab acquired TD Ameritrade, partly because both companies had a "sizable presence in the Dallas-Fort Worth area," according to a press release at the time.
Nasdaq
In March, Nasdaq announced that it's opening a new regional headquarters in Dallas. The stock exchange is still scouting a location, a spokesperson told Business Insider.
Nasdaq has had a presence in Texas for more than two decades, the spokesperson said, and has more than 100 employees in the state. It also has around 900 clients, like banks and financial institutions, in Texas, and more than 200 listed companies are headquartered there.
Citi
Citi has been in Texas for decades and has eight offices throughout the state. The biggest is in Irving, a Dallas suburb about 10 miles outside the city.
Approximately 11,000 employees work at the Irving campus, a spokesperson told Business Insider, working in the technology, global functions, US private bank, and services divisions. The company bought the campus in 2000, which includes a fitness center, cafe, wellness clinic, walking trail, and game room.
Wise
The London-based fintech company Wise first opened an office in Austin in 2021, and announced in September 2025 that it's significantly expanding its footprint in the city. Wise bought two additional floors of office space, totaling 90,000 square feet, according to a spokesperson.
There are more than 700 Wise employees in the United States and most are based in Austin, the spokesperson said. The company was hiring for 29 roles in Texas compared to one role in New York as of September 10, according to its website.
