Introduction
The Global Industry Classification Standard® (GICS®) assigns companies to a single classification at the sub-industry level according to their principal business activity using quantitative and qualitative factors, including revenues, earnings and market perception. The sector is the first level of the four-tiered, hierarchical industry classification system that includes 11 sectors, 24 industry groups, 69 industries and 158 sub-industries. The classification standard is in constant evolution to ensure that it reflects the current state of industries globally.
The Financials sector includes, but is not limited to:
- Companies with conventional banking operations;
- Insurance and reinsurance brokerage firms;
- Financial exchanges and providers of financial decision support tools and products, including rating agencies;
- Institutions that provide consumer finance services;
- Investment management and brokerage firms;
- Firms providing mortgage and mortgage-related services; and
- Companies with significantly diversified holdings across three or more sectors, none of which contribute a majority of profit or sales.
