Another Bank Makes NYC Move

NEW YORK CITY-Only a few days after the State revealed that Goldman Sachs planned to headquarter its new full-service banking operations here, as GlobeSt.com reported, Gov. Paterson revealed that Industrial and Commercial Bank of China is opening its first US branch in New York City.

Gov. Paterson says that this move is the latest positive development for Manhattan’s financial marketplace. “Once again, New York is proving itself to be the capital of global finance,” he says in a prepared statement. “When one of the largest banks in the world chooses New York City as their US base of operations, it is a reminder of the role that our State plays in global financial markets.”

ICBC’s official opening comes in the same week as Goldman Sachs Group Inc. revealed that it has applied to the New York State Banking Department to become a full-service, state-chartered bank, and will headquarter its US commercial bank in New York City. Once approved, Goldman Sachs Bank USA will have approximately $150 billion in assets.