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 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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.