11/28/12
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`The Financial Services Industry in the United States 1 SelectUSA
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`1< sELECTUSA
`The Financial Services Industry in the United States
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`Categories: Financial Services Professional Services (Legal. Accounting. etc.)
`The Financial Services Industry in the United States
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`Financial markets in the United States are the
`largest and most liquid in the world. In 2010,
`finance and insurance represented 8.4 percent
`(or $1.235 trillion) ofU.S. gross domestic
`product. Leadership in this large, high-growth
`sector translates into substantial economic
`activity and direct and indirect job creation in
`the United States.
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`Financial services and products help facilitate
`and finance the export ofU.S. manufactured
`goods and agricultural products. In 2009, the
`United States exported $7 o billion in financial
`services and had a $1.6 billion deficit in financial
`services and insurance trade. The securities
`subsector of the industry shows great potential
`for employment growth, with a 12 percent increase expected by 2018. According to the U.S. Department of
`Labor, 803,100 people were employed in the securities and investment sector at the end of2010.
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`Investment in the U.S. financial services industry offers significant advantages for financial firms. At least 140
`of Fortune's Global500 companies have chosen to locate their headquarters in the United States to take
`advantage ofits creative, competitive, and comprehensive financial services sector. The industry offers the
`greatest array of financial instruments and products to allow consumers to manage risk, create wealth and
`meet financial needs.
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`Industry Subsectors
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`Banking: The U.S. banking system has $13.3 trillion (end of2010) in assets and supports the world's largest
`economy with the greatest diversity in banking institutions and concentration of private credit.
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`Asset Management: The U.S. asset management subsector is unrivaled in its depth and diversity. U.S. asset
`managers are currently meeting the pension management needs for almost 70 percent of the global
`retirement market. Total U.S. retirement assets were $21 trillion at the end of2009, up nearly $5 trillion.
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`Insurance: In 2009, the insurance industry's net premiums written totaled $934 billion, with premiums
`recorded by life/health insurers accounting for 55 percent and premiums by property I casualty insurers
`accounting for 45 percent, according to The Insurance Information Institute. Additionally, about one-third
`of all reinsurance sold worldwide is bought by U.S. firms.
`VERSATA EXHIBIT 2057
`SAP v. VERSATA
`CASE CBM2012-00001
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`selectusa. commerce. gov /industry-snaps hots/f inancial-serv ices-industry -united-states
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`11/28/12
`The Financial Serv ices Industry in the United States | SelectUSA
`Venture Capital: The United States created the venture capital industry and maintains the oldest and most
`dominant position worldwide. In 2008, venture capital-backed companies employed more than 12 million
`people and generated nearly $3 trillion in revenue. Respectively, these figures accounted for 11 percent of
`private sector employment and represented the equivalent of 21 percent of U.S. gross domestic product
`during that same year.
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`Industry Associations:
`Am erican Bankers Association
`Am erican Benefits Council
`Am erican Council of Life Insurance
`Am erica’s Health Insurance Plans
`Am erican Insurance Association
`Am erican Insurance Association
`Em erging Markets Private Equity Association
`Equipm ent Leasing and Finance Association
`Finance, Credit & International Business
`Investm ent Com pany Institute
`Latin Am erican Venture Capital Association
`Mortgage Bankers Association
`National Association of Insurance Com m issioners
`National Association of Sm all Business Investm ent Com panies
`National Venture Capital Association
`Property Casualty Insurers Association of Am erica
`Reinsurance Association of Am erica
`Securities Industry and Financial Markets Association
`T he National Association of Seed and Venture Funds
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`Industry Publications:
`Am erican Banker
`Bloom berg BusinessWeek
`Global Finance
`Institutional Investor
`Mortgage Banking
`Pensions & Investm ents
`T he Wall Street Journal
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`selectusa.commerce.gov /industry -snapshots/f inancial-serv ices-industry -united-states