BlackRock Joins $270M Capital Pool for Texas Stock Exchange Launch
BLK•BlackRock joined Citadel Securities, Goldman Sachs, JPMorgan and Bank of America in committing to a $270 million capital pool for the new Texas Stock Exchange. Texas now employs 386 000 financial-sector workers, with JPMorgan staffing 31 000 in-state and Schwab relocating its headquarters to Dallas–Fort Worth.
1. Workforce and Economy
Texas has grown its financial-services workforce to 386 000 employees, surpassing New York and ranking its GDP among the world’s top ten economies. The state’s business-friendly regulations and central geography also position it as a key hub for trade with Latin America.
2. Relocations and Hubs
JPMorgan now employs 31 000 people in Texas, exceeding its 24 000-strong New York staff, while Charles Schwab moved its headquarters to Dallas–Fort Worth in 2021. Goldman Sachs is building a $500 million financial center in Dallas to accommodate 5 000 employees, its largest site outside New York.
3. BlackRock’s Role in Texas Stock Exchange
BlackRock is one of five major firms contributing to a $270 million capital fund to establish the Texas Stock Exchange. This new exchange aims to complement NYSE Texas and reinforce the state’s bid to become America’s financial capital.
