Finance Industry in Miami

The Miami-Miami Beach-Kendall metropolitan division had 96,700 Financial Activities jobs in August 2026, a preliminary Bureau of Labor Statistics count.

That August 2026 figure is 5.0 percent lower than August 2025, and it sits inside 1,349,400 total nonfarm jobs in the same division, also preliminary (BLS, Miami-Miami Beach-Kendall Economy at a Glance). BLS publishes the series in thousands of jobs, not seasonally adjusted, and marks the latest month as preliminary.

The Miami-Dade Beacon Council, an economic development group, publishes a much larger number. It says the finance and insurance sector employs more than 150,000 people, contributes approximately $27.7 billion a year to Miami-Dade County, and pays average annual wages of around $110,000 (Miami-Dade Beacon Council). The Beacon Council page carries no date for those figures and does not say how it counts jobs, so the 150,000 figure and the BLS series measure different things and should not be compared month to month.

The direction matters more than the gap. Every month from March through August 2026 shows fewer Financial Activities jobs in the division than the year before, and the shortfall grew from 3.4 percent to 5.0 percent over those six months (BLS). Any claim of a Miami finance boom should be read next to that payroll trend.

City National Bank of Florida, at 25 W Flagler St, is the largest FDIC-insured bank headquartered in Miami by total assets, followed by Ocean Bank, Banesco USA, Emigrant Bank and Banco do Brasil Americas.

The FDIC's BankFind institution data, indexed on October 9, 2026, list 16 active insured banks with Miami as their headquarters city (FDIC BankFind). Two of the 16, The First National Bank and Trust Company of Miami and Security Bank and Trust Company, carry ZIP code 74354 and the state code OK, so 14 of the banks are in Miami, Florida. Assets in the table are the FDIC's total assets values, converted from the thousands of dollars in which the BankFind API documentation expresses dollar amounts (FDIC BankFind API documentation).

The list shows how Miami banking splits by geography. Four of the banks sit on Brickell Avenue, Ocean Bank and Pibank share NW 42nd Ave, and Grove Bank and Trust keeps its headquarters on S Bayshore Dr (FDIC BankFind).

Widening the search to all of Miami-Dade County adds six banks headquartered in neighboring cities, for 20 in the county (FDIC BankFind, Miami-Dade County). The largest bank in the county is BankUnited, National Association, headquartered in Miami Lakes with about $34.9 billion in assets, and Amerant Bank, National Association, Bradesco Bank, Terrabank and BankMiami list Coral Gables, while U. S. Century Bank lists Doral.

A practical tip for anyone checking a Miami bank: a search of the FDIC data by city name alone mixes in Miami, Oklahoma, so filtering by ZIP code or state is the quicker way to a clean Miami, Florida list.

The Miami-Dade Beacon Council says more than 60 international banks operate in Brickell and calls it the largest concentration of international banking in the United States outside New York City.

The Beacon Council ties that cluster to Miami's position between North America and Latin America, and says the banks provide financial services for multinational corporations operating across the Americas (Miami-Dade Beacon Council). It says Miami's private banking sector manages tens of billions of dollars in assets for international clients.

State law sets the forms a foreign bank office in Miami can take. The Florida Office of Financial Regulation can authorize a foreign bank to operate an administrative office, a representative office, an agency office or a branch office in Florida, and each type carries a different level of authorized activity (Florida Office of Financial Regulation). A foreign trust company can be authorized to run a representative office. The applicant files with the Office of Financial Regulation and also with the Board of Governors of the Federal Reserve System, so a new Brickell office answers to both a state and a federal regulator.

The state publishes the names of the foreign banks it licenses. The Office of Financial Regulation's international banking statistics page lists 11 state-licensed offices by charter number, among them Banco do Brasil, S.A., Itau Unibanco, S.A., Banco de Bogota, S.A., Banco de Credito del Peru, Banco de Sabadell, S.A. and Banco Pichincha, C.A., each linked to its FFIEC 002 report of assets and liabilities (Florida Office of Financial Regulation, international banking statistics). That state list does not give office addresses, so it shows which foreign banks hold Florida licenses rather than which ones sit in Brickell, and it is far shorter than the Beacon Council's count of more than 60 international banks in Miami.

The international bankers in Miami also have their own trade group. FIBA describes itself as a non-profit trade association dedicated to international banking, runs FIBA Academy courses and conferences, and lists its office at 80 SW 8th St #2170 in Miami (FIBA). Its membership is open to financial institutions, fintechs, law firms, consultants and individuals.

The Miami-Dade Beacon Council says more than 500 fintech companies operate in Miami, and that startups in the Miami-Fort Lauderdale region raised $2.77 billion in venture capital.

The Beacon Council places that $2.77 billion beside a 2024 figure for the whole state: Florida startups raised $4.13 billion across 588 deals in 2024, which it says put Florida among the top six states for venture capital activity (Miami-Dade Beacon Council). Elsewhere on the same page it describes the regional $2.77 billion as raised in recent years, and the page does not name the data behind either figure, so both are best read as the Beacon Council's own estimates.

The Beacon Council's page also carries two headline figures that do not quite match: a banner of $28B gross regional product for the sector and, in the text, about $27.7 billion a year contributed to Miami-Dade County (Miami-Dade Beacon Council). Neither figure is dated.

Startup funding is not the same as payroll. BLS counted 96,700 Financial Activities jobs in the Miami-Miami Beach-Kendall division in August 2026 (preliminary), 5.0 percent below a year earlier (BLS), so the venture totals have not been matched by finance job growth in the 2026 payroll data.

The Federal Reserve Bank of Atlanta runs its Miami Branch at 9100 NW 36th St., Miami, FL 33178,.

The Atlanta Fed serves the Sixth Federal Reserve District, which covers Alabama, Florida, Georgia and parts of Louisiana, Mississippi and Tennessee, and keeps branches in Birmingham, Jacksonville, Miami, Nashville and New Orleans (Federal Reserve Bank of Atlanta).

The Miami Branch page also advertises full- and part-time jobs at the Atlanta headquarters, the five branch locations, Miami among them, and an office in Newark, New Jersey (Federal Reserve Bank of Atlanta).

The Miami Branch page also links to the Miami Monetary Museum, which the Atlanta Fed describes as a display of Florida's historic currency and rare large bills, with interactive videos on the history and functions of the Fed (Federal Reserve Bank of Atlanta).

The Miami-Dade Beacon Council offers site selection help and a finance industry contact, and the Florida Office of Financial Regulation licenses foreign bank and trust offices.

The Beacon Council lists its office at 80 SW 8th St Unit 2400, Miami, FL 33130, phone 305-579-1300, and its finance page offers a staff contact for the financial services industry and a Finance Advisory Council of local experts (Miami-Dade Beacon Council). Foreign banks and trust companies planning a Miami office deal with the Division of Financial Institutions in Tallahassee at (850) 410-9800 (Florida Office of Financial Regulation). FIBA lists a FIBA Academy line at 305-810-2818 and a membership line at 305-539-3744 for training and membership (FIBA).

Last verified: October 15, 2026, on the Florida Office of Financial Regulation, FDIC, Federal Reserve Bank of Atlanta, Bureau of Labor Statistics, Miami-Dade Beacon Council and FIBA websites.