Corporate Office HQ

Finance

State Farm Insurance Corporate Office

State Farm Insurance was founded by George Mecherle in 1922 as an automobile insurance company. It was started as a mutual company and so was owned by its policyholders.

The company originally provided auto insurance to farmers. The company expanded in the 1950s to other types of insurance, such as homeowners insurance and life insurance.

In 1964, State Farm became the largest insurance writer in the world.

In the 1990s State Farm Catastrophe Services was founded.

In 1999 State Farm Bank (SFB) opened. It is run by State Farm Financial Services. SFB offers many banking services such as checking, savings, and mortgages, but does not have branches Instead, it offers these services over the phone or via internet, as well as through agents in five states.

State Farm’s main business is State Farm Mutual Automobile Insurance Company.

State Farm continues to be a mutual company, owned by their policyholders. Edward B. Rust has been the CEO since 1985, but retired in 2015. 

Due to the COVID-19 pandemic and quarantine, many drivers virtually stopped driving or drove considerably fewer miles. This led State Farm and other insurance companies to issue partial refunds to consumers. 

State Farm has 18,700 agents working out of  343 claim offices throughout the United States and Canada, has 56,788 employees, and had $81.732 billion in revenue in 2018.

State Farm Insurance

State Farm Insurance was founded by George Mecherle in 1922 as an automobile insurance company. It was started as a mutual company and so was owned by its policyholders.

The company originally provided auto insurance to farmers. The company expanded in the 1950s to other types of insurance, such as homeowners insurance and life insurance.

History

In 1964, State Farm became the largest insurance writer in the world.

In the 1990s State Farm Catastrophe Services was founded.

In 1999 State Farm Bank (SFB) opened. It is run by State Farm Financial Services. SFB offers many banking services such as checking, savings, and mortgages, but does not have branches Instead, it offers these services over the phone or via internet, as well as through agents in five states.

State Farm’s main business is State Farm Mutual Automobile Insurance Company.

State Farm continues to be a mutual company, owned by their policyholders. Edward B. Rust has been the CEO since 1985, but retired in 2015. 

Due to the COVID-19 pandemic and quarantine, many drivers virtually stopped driving or drove considerably fewer miles. This led State Farm and other insurance companies to issue partial refunds to consumers. 

State Farm has 18,700 agents working out of  343 claim offices throughout the United States and Canada, has 56,788 employees, and had $81.732 billion in revenue in 2018.

INTL FCStone Corporate Office

INTL FCStone has its roots in the 1924 founding of Saul Stone and Company.

In the 1930s Saul Stone and Company was one of the first members of the Chicago Mercantile Exchange.

In the 1970s the company began to work in financial futures.

In 1978 Farmers Commodities Corporation was formed to provide grain brokerage services. The company eventually bought Saul Stone and Company in 2000 and changed the name to FCStone.

In 1981 International Assets was founded as a brokerage firm. The company was listed on the NASDAQ in 1994.

In September of 2009 FCStone and International Assets merged. The company changed its name in 2010 to INTL FCStone.

Today, INTL FCStone is a financial services company that provides, together with their subsidiaries, foreign exchange services, treasury services, physical commodities trading, securities execution, risk-management services, foreign exchange and spot foreign currency trading services, and wholesale market services in select foreign securities.

INTL FCStone is #28 on the Fortune Global 500 list, works in over 100 countries through 30 worldwide offices, serves over 10,000 customers, has 1,000 employees, and had $54.53 billion in revenue in 2012.

 

INTL FCStone

INTL FCStone has its roots in the 1924 founding of Saul Stone and Company.

In the 1930s Saul Stone and Company was one of the first members of the Chicago Mercantile Exchange.

In the 1970s the company began to work in financial futures.

History

In 1978 Farmers Commodities Corporation was formed to provide grain brokerage services. The company eventually bought Saul Stone and Company in 2000 and changed the name to FCStone.

In 1981 International Assets was founded as a brokerage firm. The company was listed on the NASDAQ in 1994.

In September of 2009 FCStone and International Assets merged. The company changed its name in 2010 to INTL FCStone.

Today, INTL FCStone is a financial services company that provides, together with their subsidiaries, foreign exchange services, treasury services, physical commodities trading, securities execution, risk-management services, foreign exchange and spot foreign currency trading services, and wholesale market services in select foreign securities.

INTL FCStone is #28 on the Fortune Global 500 list, works in over 100 countries through 30 worldwide offices, serves over 10,000 customers, has 1,000 employees, and had $54.53 billion in revenue in 2012.

 

Freddie Mac Corporate Office

The Federal Home Loan Mortgage Corporation (known as Freddie Mac) was created in 1970 to expand the secondary market for mortgages. Previous to this, the Federal National Mortgage Association (known as Fannie Mae) was the only institution in this market.

The secondary mortgage market is when an institution buys secondary mortgages. They then pool them together and sells them to investors on the open market as mortgage-backed securities. This increases the amount of money that is available for mortgages.

In theory, this lowers the risk for a bank or financial institution of holding the mortgage because of the aggregation process. However, this process undoes the connection between lender and borrower, such that the institution that originally granted the mortgage had no incentive to make sure the borrower can pay the loan. Freddie Mac assumes the credit risk on the mortgages in exchange for charging a guarantee fee.

Freddie Mac’s stock plummeted to $1 in September of 2008 as a result of the economic crisis, then dropped another 50% by June of 2010. At that point Freddie Mac was delisted.

Today Freddie Mac provides credit guarantee for residential mortgages and invests in mortgage loans and mortgage-related securities in the U.S. Freddie Mac has 5,000 employees and had $80.64 billion in revenue in 2012.

 

Freddie Mac

The Federal Home Loan Mortgage Corporation (known as Freddie Mac) was created in 1970 to expand the secondary market for mortgages. Previous to this, the Federal National Mortgage Association (known as Fannie Mae) was the only institution in this market.

The secondary mortgage market is when an institution buys secondary mortgages. They then pool them together and sells them to investors on the open market as mortgage-backed securities. This increases the amount of money that is available for mortgages.

In theory, this lowers the risk for a bank or financial institution of holding the mortgage because of the aggregation process. However, this process undoes the connection between lender and borrower, such that the institution that originally granted the mortgage had no incentive to make sure the borrower can pay the loan. Freddie Mac assumes the credit risk on the mortgages in exchange for charging a guarantee fee.

History

Freddie Mac’s stock plummeted to $1 in September of 2008 as a result of the economic crisis, then dropped another 50% by June of 2010. At that point Freddie Mac was delisted.

Today Freddie Mac provides credit guarantee for residential mortgages and invests in mortgage loans and mortgage-related securities in the U.S. Freddie Mac has 5,000 employees and had $80.64 billion in revenue in 2012.

 

Prudential Financial Corporate Office

Prudential Financial Inc was founded in New Jersey in 1875 by John F. Dryden. It was originally called The Widows and Orphans Friendly Society, and then the Prudential Friendly Society. At the beginning the company’s only product was burial insurance.

By the turn of the century, Prudential was making the bulk of its profits selling industrial life insurance door-to-door. Industrial workers paid double what others paid for life insurance because of the danger involved in their work. High lapse rates meant that only one in twelve policies reached maturity.

Today Prudential Financial is a financial services company. With its subsidiaries, the company provides insurance, investment management, life insurance, annuities, mutual funds, pension and retirement investments,  securities, asset management, and brokerage services in more than 30 countries.

In August 2023, the company states that it was hacked via a third-party vendor and that as many as 320,000 customers may have been compromised. 

Stock investors in the company have seen amazing ROIs, with some reaping as much as a 64% return. 

Prudential is a Fortune 500 company, that has been publicly traded since 2001, is composed of hundreds of subsidiaries with $2 trillion of life insurance, has over 40,000 employees, and had $70.934 billion in revenue in 2021.

Prudential maintains a corporate office in Newark, New Jersey.

Prudential Financial

Prudential Financial Inc was founded in New Jersey in 1875 by John F. Dryden. It was originally called The Widows and Orphans Friendly Society, and then the Prudential Friendly Society. At the beginning the company’s only product was burial insurance.

History

By the turn of the century, Prudential was making the bulk of its profits selling industrial life insurance door-to-door. Industrial workers paid double what others paid for life insurance because of the danger involved in their work. High lapse rates meant that only one in twelve policies reached maturity.

Today Prudential Financial is a financial services company. With its subsidiaries, the company provides insurance, investment management, life insurance, annuities, mutual funds, pension and retirement investments,  securities, asset management, and brokerage services in more than 30 countries.

In August 2023, the company states that it was hacked via a third-party vendor and that as many as 320,000 customers may have been compromised. 

Stock investors in the company have seen amazing ROIs, with some reaping as much as a 64% return. 

Prudential is a Fortune 500 company, that has been publicly traded since 2001, is composed of hundreds of subsidiaries with $2 trillion of life insurance, has over 40,000 employees, and had $70.934 billion in revenue in 2021.

Prudential maintains a corporate office in Newark, New Jersey.

Citigroup Corporate Office

Citigroup is one of the Big Four banks in the United States. It is a multinational financial services company.

Citigroup was formed by the merger of Citicorp and Traveler’s Group in 1998.

Citicorp traces its roots to the 1812 founding of the City Bank of New York. Citicorp had become the largest bank in the U.S. by 1895 and was the first contributor to the Federal Reserve Bank of New York in 1913.

Traveler’s Group was a group of diverse financial concerns, including property, casualty and life  insurance, retail brokerage, asset management, and annuities.

The merger created a firm worth $140 billion with assets of $700 billion. The deal enabled Traveler’s Group to market mutual funds and insurance to Citicorp’s customers, and allowed Citicorp access to a larger client base.

Citigroup had to be bailed out by the U.S. government during the global financial crisis of 2008 with $25 billion in emergency aid. The company eventually recovered and paid the government back. The U.S. government also received an additional $12 billion from selling the shares they acquired during the bailout.

Today Citigroup has the largest financial services network in the world, working in 140 countries with 16,000 worldwide offices and 260,000 employees.

Citigroup is part of the S&P 500, has 259,000 employees, and had $70.17 billion in revenue in 2012.

Citigroup

Citigroup is one of the Big Four banks in the United States. It is a multinational financial services company.

Citigroup was formed by the merger of Citicorp and Traveler’s Group in 1998.

Citicorp traces its roots to the 1812 founding of the City Bank of New York. Citicorp had become the largest bank in the U.S. by 1895 and was the first contributor to the Federal Reserve Bank of New York in 1913.

History

Traveler’s Group was a group of diverse financial concerns, including property, casualty and life  insurance, retail brokerage, asset management, and annuities.

The merger created a firm worth $140 billion with assets of $700 billion. The deal enabled Traveler’s Group to market mutual funds and insurance to Citicorp’s customers, and allowed Citicorp access to a larger client base.

Citigroup had to be bailed out by the U.S. government during the global financial crisis of 2008 with $25 billion in emergency aid. The company eventually recovered and paid the government back. The U.S. government also received an additional $12 billion from selling the shares they acquired during the bailout.

Today Citigroup has the largest financial services network in the world, working in 140 countries with 16,000 worldwide offices and 260,000 employees.

Citigroup is part of the S&P 500, has 259,000 employees, and had $70.17 billion in revenue in 2012.