Why major financial firms are expanding Texas presence beyond traditional Wall Street hub

Financial services firms have increased their presence in the state of Texas in recent years as they diversify their strategic footprint beyond the traditional financial hub of New York City's Wall Street.Several of the nation's most prominent banks and financial institutions have built new campuses or increased their operational presence in Texas in recent years. The trend comes following many Americans' relocations during the COVID-19 pandemic away from high-tax states like New York and California to those with lower tax and regulatory burdens.The New York City mayoral election set to be hel