More financial services companies hiring in 2021 based in Orlando, Dallas

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More financial services companies hiring in 2021 based in Orlando, Dallas

NEW YORK - More than half of the new employees banks and other financial services companies hired in 2021 are based in Orlando, Dallas and other cities - far from Wall Street - as the battle for talent pushes companies to cast a wider net for candidates, according to a study released on Thursday.

The real estate management company JLL, which manages office buildings for many of the world's biggest banks, found that 51% of all finance jobs filled last year were in Orlando, Dallas, Austin, Tampa, Indianapolis, Nashville, Seattle, Charlotte, Atlanta and Miami.

The report said that this was a significant shift from before the epidemic when financial firms were just beginning to build hubs in secondary markets like Salt Lake City and Charlotte.

In 2021, Dallas and Austin saw more than 6% growth in the financial services sector, with nearly half a million people working in that field in those cities.

Sanjay Rishi, head of JLL's Americas works business, said that banks are facing stiff competition when hiring for technical and management positions.

Rishi said that the drive to find talent is the biggest challenge. They have to source it from not only the traditional cities they have sourced from, but also these tech cities like Austin. In the past few years, Hewlett Packard Enterprise, Oracle Corp, and Tesla Inc have moved their headquarters to Austin from higher-tax states like California.

Some Republican states like Texas target corporate practices that lean on or take sides on progressive themes like fossil fuel lending curbs, as a result of the shift in recruitment patterns.

In the last year, Texas banned state entities from working with companies that discriminate against firearms or fossil fuel companies, leading some banks to withdraw from the municipal bond business there.