Name the Country’s *Banking Capital
See you how do on this quick financial quiz:
In order of total market cap (“capitalization,” or entity value), calculated as of today (1/14/09), rank the following pairs of banks and their headquarters cities:
—Citigroup and JP Morgan (New York City)
–Bank of America and Wachovia (Charlotte)
–Wells Fargo and U.S. Bank (Minneapolis)
Answer: 1) Minneapolis; 2) New York City; 3) Charlotte.
Not convinced? Check out this video, “Minnesota rises as Citi Sleeps,” on the (London) Financial Times’ web site today.
*Note: although Wells Fargo technically is now based in SF, its predecessor, Norwest, was originally based in Minneapolis and maintains much of its operations and staff here.