From JPMorgan to BlackRock: The 15 financial firms that file the most H-1B immigrant work visas

The aluminum industry is asking Donald Trump to make tariff exceptions for Canada.
The aluminum industry is asking Donald Trump to make tariff exceptions for Canada. Bloomberg/Bloomberg via Getty Images
  • Financial firms seek to hire thousands of skilled foreign workers through H-1B visas each year.
  • President Trump's immigration crackdown is raising questions about the future of such visas.
  • See which financial firms file for the most H-1B visas, according to publicly available data.

As President Donald Trump follows through on his campaign promises to crack down on immigration, questions remain about what might happen to skilled workers who come to the US on H-1B visas.

Trump targeted the H-1B visa program in his first term when he signed the "Buy American, Hire American" executive order to rein in potential abuses. Ahead of the second term, however, he told the New York Post that he "always liked the visas," which US companies use to hire foreign workers with specialized skills, often in science and technology.

"I've been a believer in H-1B," he told the Post in December. "I have used it many times. It's a great program."

Still, the program's future remains very much up in the air: Last week, two Republican senators introduced a joint resolution to strike down a Biden-era rule allowing such visas to be automatically extended for 540 days, instead of 180 days.

As such, Business Insider has run the numbers to find out which US financial services companies stand to be affected the most if these visas are tamped down again. BI used data from the Department of Labor and US Citizenship and Immigration data to analyze which financial giants file the most H-1B requests. The data covered the 2024 government fiscal year (the fourth quarter of 2023 through the third quarter of 2024) and was collected from applications submitted by businesses that wish to sponsor a skilled worker's visa.

We found that some of the largest banks, credit card companies, and asset managers are among the most active sponsors of these visas, including JPMorgan and BlackRock. While many of the filings seek tech and software workers, some firms have used them to hire investment bankers or investment professionals.

Of course, not all filings lead to a hire and some filings may actually be for the same hire, as firms will refile to reflect amendments or to extend an existing visa. Still, the publicly available data provides a good indication of the H-1B visa demand among major companies.

The firms listed either did not respond to a request for comment or declined to comment on the record.

Check out which financial firms are sponsoring the most H-1B visas, including the types of roles they are looking to fill:

1. JPMorgan Chase

A close-up of JPMorgan Chase CEO Jamie Dimon speaks at The Institute Of International Finance annual membership meeting.
CEO Jamie Dimon. Kevin Dietsch/Getty Images

Total certified H-1B filings: 1,990

Total employees worldwide: 317,233 as of the end of 2024

Types of filings: More than 1,500 filings are for workers with "software" in their title. The firm also hired for roles like a vice president of investment banking, an executive director of liquidity risk management, and a managing director of client fraud prevention.

2. Fidelity

Fidelity Investments
Getty Images

Total certified H-1B filings: 1,839

Total employees worldwide: More than 76,000 per a January press release

Types of filings: More than 40% of filings contain the word software in their job title, and many other filings are related to tech as well, such as a director-level AI employee. The company also filed for a director of quantitative analysis and even some accounting roles through the program.

3. Goldman Sachs

A bald man in a suit smiles
CEO David Solomon. Michael Kovac

Total certified H-1B filings: 1,443

Total employees worldwide: 46,500

Types of filings: Slightly more than a quarter of Goldman's filings are for roles that contain the word software. The company has also hired some divisional COO and CFOs through the program, as well as managing directors in areas like banking and financial crime control.

4. Citi

A woman strandsstands next to a wall
CEO Jane Fraser. Courtesy of Citi

Total certified H-1B filings: 1,058

Total employees worldwide: 239,000

Types of filings: Many of the filings are for tech roles, such as software engineering, application development, and information technology roles. Other filings include a regulatory risk group manager and even a trader.

5. Capital One

Capital One sign
J. David Ake, Getty Images

Total certified H-1B filings: 758

Total employees worldwide: 51,987 at the end of 2023

Types of filings: Most of Capital One's filings are for tech roles, as well as adjacent roles like a quantitative analysis manager and a range of data science roles.

6. Morgan Stanley

Morgan Stanley
Michael M. Santiago/Getty Images

Total certified H-1B filings: 642

Total employees worldwide: More than 80,000, per its corporate website

Types of filings: Morgan Stanley does not include job title information in their filings, only the level of seniority. The filings range from the associate level up to managing director.

7. Barclays

barclays trader new york stock exchange
A Barclay's trader works on the floor of the New York Stock Exchange, July 3, 2012. REUTERS/Brendan McDermid

Total certified H-1B filings: 609

Total employees worldwide: Approximately 85,000, per its corporate website

Types of filings: Most of Barclay's filings are for tech roles, but the company has also hired for director roles in global markets, equity derivatives structuring, and a credit desk quant role.

8. Visa

Visa
BI Intelligence

Total certified H-1B filings: 587

Total employees worldwide: 31,600, according to a December 4 report

Types of filings: The vast majority of filings are for tech roles, including a senior machine learning engineer and a variety of software engineers. Other filings include a senior M&A manager and a senior finance manager.

9. American Express

American Express and American Express corporate cards are pictured in Encinitas, California October 17, 2011.  REUTERS/Mike Blake
American Express and American Express corporate cards are pictured in Encinitas Thomson Reuters

Total certified H-1B filings: 575

Total employees worldwide: 74,000, per a 2024 press release

Types of filings: Nearly a third of AmEx's filings are for manager roles, and the vast majority of those are in the tech and data science sectors of the business. The company has also filed for director roles in investment management and marketing analytics.

10. Bank of America

brian moynihan
CEO Brian Moynihan. REUTERS / Bobby Yip

Total certified H-1B filings: 500

Total employees worldwide: 213,193, as of the end of 2024

Types of filings: Similar to others on the list, most of Bank of America's H-1B filings are for tech roles, but the company has also hired a credit senior officer in a director role, an associate general counsel, and a VP who works with financial derivatives.

11. Wells Fargo

A woman walks in front of the Wells Fargo building in San Francisco
Wells Fargo in San Francisco Justin Sullivan/Getty Images

Total certified H-1B filings: 453

Total employees worldwide: 220,167, as of the end of the third quarter of 2024

Types of filings: Nearly 300 of Wells Fargo's filings are for roles with software in the title, but the firm had also filed for roles including a construction management director and a lead securities trader.

12. Mastercard

The Mastercard logo on a New York Stock Exchange screen.
Michael M. Santiago/Getty Images

Total certified H-1B filings: 447

Total employees worldwide: 33,400 employees at the end of 2023, per an annual report

Types of filings: Mastercard has made 220 H-1B filings for roles with software in the title, while another 64 include the word "product" in the name. Other filings include roles such as a vice president of marketing, strategy, and operations, and a commercial counsel role.

13. Charles Schwab

Charles Schwab, the founder and chairman of Charles Schwab.
Charles Schwab. REUTERS/Jim Young

Total certified H-1B filings: 429

Total employees worldwide: 32,100, as of the end of the third quarter of 2024

Types of filing: More than 80% of roles have software in the name, though the company has also filed for director roles in business strategy, market risk management, and treasury capital markets.

14. BlackRock

Larry Fink, Chairman and CEO of BlackRock, gesturing and speaking during an interview with CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2023.
CEO Larry Fink. Brendan McDermid/Reuters

Total certified H-1B filings: 354

Total employees worldwide: More than 20,000 globally

Types of filings: The vast majority of BlackRock's H-1B filings only note the role level. A few specific roles were mentioned, including an external relationship management associate and a sustainable investing associate.

15. UBS

UBS
Fabrice Coffrini/AFP/Getty Images

Total certified H-1B filings: 294

Total employees worldwide: 109,396, as of the end of the third quarter of 2024

Types of filing: UBS has filed for a range of tech roles as well as direct business roles, such as an alternative investments strategy director and a director of investment banking.

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