Part 13/13:
In the coming years, expect the size of Texas-based operations to grow, more firms to relocate or expand their regional hubs, and the city of New York to grapple with the fiscal and social consequences of this gradual exodus.
In essence, the question Jamie Dimon’s annual letter subtly posed—whether a city or country has a divine right to success—remains unanswered. But the trend is clear: the future of American finance may be less about the city and more about the region.